《大行報告》瑞銀上調騰訊音樂(TME.US)目標價至8.5美元 評級「中性」
瑞銀發表報告指,騰訊音樂(TME.US)首季收入增長和毛利率擴張再次勝預期,對其線上音樂業務看法變得更加正面。但考慮到估值水平合理,維持對該股「中性」評級,目標價由8.2美元上調至8.5美元。
考慮到線上音樂服務的更好增長,瑞銀將騰訊音樂第二季收入預測提高2.9%至74億人民幣,但由於社交娛樂業務疲軟,維持全年收入預測298億人民幣不變。受穩固的毛利率改善趨勢推動,該行將第二季和全年毛利率預測提高1.6個百分點。同時下調營運成本假設,將第二季和全年每股盈利預期分別提高20.8%和15.2%。
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