《大行報告》中金升網易-S(09999.HK)目標價25%至175元 評級「跑贏行業」
中金發表報告料網易-S(09999.HK)去年末季收入按年及按季各增2%;末季Non-GAAP淨利潤按年料跌25%,主要由於對上財年同期投資收益豐厚致基數較高。存量遊戲煥新生,《蛋仔派對》年末突起,今年1月延續亮眼表現。
報告稱,網易創新業務持續推進,盈利能力有望進一步改善。料2023全年手遊業務穩增長,關注《逆水寒手遊》進度;端遊或相對平穩。考慮到遊戲亮眼表現,上調2022年Non-GAAP淨利潤預測2%至230億元人民幣;維持2023至2024年盈利預測及「跑贏行業」評級,關注新遊戲上線潛在彈性。由於行業估值中樞上移,上調H股目標價25%至175港元。
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