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《大行報告》瑞信上調網易-S(09999.HK)目標價至199.95元 評級「跑贏大市」
瑞信發表報告指,網易-S(09999.HK)(NTES.US)收入按年增長6%,較該行預測高2%,毛利率達到59.5%,亦較瑞信預測高出5個百分點,主要受到遊戲業務增長及雲音樂(09899.HK)利潤率改善所帶動。 該行表示,網易今年夏天即將推出《逆水寒》、《哈利波特:魔法覺醒》海外及《超凡先鋒》等手遊,料將支撐收入增長,預測今年全年公司收入可按年增長9%,同時利潤率具持續改善空間,預測網絡遊戲業務毛利率將可持續保持在65%左右,並可逐步提升。 瑞信將網易今明兩年每股經調整盈利預測上調23%及25%,目標價由189.1元上調至199.95元,維持「跑贏大市」評級。
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