《大行報告》花旗下調騰訊(00700.HK)目標價至673元 評級「買入」
花旗發表研究報告,指騰訊(00700.HK)將於11月10日公佈第三季業績,該行基於在多重監管及宏觀壓力下線上廣告收入放緩而作出保守預測,相信第三季收入按年升9.6%的預測可達,不過,認爲市場相對樂觀及未經下調的預測有潛在下行風險。
即使花旗對騰訊預測已低於同業,該行進一步下調對騰訊2022至2023年盈測,以反映對經營業務的持續投資。經修訂預測後,以分類加總估值法計,將其目標價由689元降至673元,評級「買入」;在整體行業增長放緩新常態中,料騰訊在忠誠用戶基礎,韌性微信生態圈,參與產業互聯網,以及審慎管理風格及具執行往績等支持下,將帶來持續而可觀的回報。
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