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摩通:降網易(9999.HK)目標至195港元 對今年網遊前景看法謹慎
格隆匯 02-28 15:13

摩通發研報指,雖然網易(9999.HK)去年第四季電腦遊戲表現正面,但對今年網遊前景看法謹慎,並下調其網遊收入預測6%,雖然預期今年的營業利潤率將有所上升,但仍將其目標價由200港元調低至195港元,維持“增持”評級。

報吿指,網易今年網遊前景堪憂,主要由於兩款新遊戲《哈利波特》和《永劫無間》今年上半年收入料偏低;受宏觀拖累主要作品收入表現亦不佳;遊戲版號恢復審批無期,或進一步推遲新作的發佈。

該行預料,網易今年第一季網遊收入按年增長13%,全年增長8%。由於投資者憂慮網遊監管前景以及未來1-2個月股價的催化劑有限,預料網易股價短期內將維持區間波動。

該行將網易2022及23年度收入分別下調5%及6%,以反映網遊收入減少,而2022及23年經調整每股盈利亦各下調1%,經調整淨利潤率則分別上調0.7及0.8個百分點。

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