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《大行報告》匯豐研究下調騰訊(00700.HK)目標價至420元 評級「買入」
阿思達克 10-14 10:04
匯豐研究發表報告指,由於遊戲前景更具挑戰,對騰訊(00700.HK)的預測轉爲更加保守。根據Sensortower,今年第三季內地及海外手機遊戲市場收入按年下跌11%及9%,近期數據顯示行業持續面對挑戰。 該行將騰訊今年至2024年線上遊戲收入預測下調2%至7%,反映《王者榮耀》國際版及《和平精英》的收入前景更爲疲弱,加上多款電腦遊戲和《黎明覺醒》海外版延遲推出等。由於遊戲業務的毛利高,該行同時下調集團此三年經營利潤預測2%至3%。 至於騰訊將於11月16日公佈第三季業績,該行預料其收入按年下跌2.9%,經調整利潤按年微升0.4%。當中料季內本地遊戲收入按年跌5%;海外遊戲收入亦跌4.1%;而廣告收入更跌10%,惟料毛利率按季改善至41%;金融科技和商業服務收入則料升3.2%。 匯豐研究又將騰訊股份目標價由500元下調至420元,反映人民幣貶值的7%影響,評級維持「買入」。該行提到,騰訊估值吸引,但大股東Prosus/ Nasper減持料會繼續對近期股價構成壓力。
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