《大行報告》大和升網易(09999.HK)目標價至175元 重申「買入」評級
大和發表研究報告指,網易(09999.HK)(NTES.US)近日公佈遊戲業務最新發展超出預期,其中《逆水寒》手遊自6月30日上線後已躍升爲中國第二高流水遊戲,而《巔峯極速》及《哈利波特魔法覺醒》海外版亦表現強勁。
該行現時預測網易今年第二季線上遊戲業務收入可按年增長6%,上半年遊戲業務表現理想。大和又指,《燕雲十六聲》的遊戲版號審批較預期早獲批,相信該遊戲可於今年底前在全球發行。
至於雲音樂(09899.HK),大和預期盈利增長將更加強勁,雖然公司積極拓展利潤率低、風險高的直播業務,令2023至2025年線上音樂業務收入或有所影響,但仍預期今年線上音樂服務的毛利率擴張和經營槓桿可能都會好過預期。
計及遊戲及音樂業務前景,該行將網易今明兩年盈利預測上調1%至3%,重申「買入」評級,目標價由172元上調至175元。(gc/k)
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