《大行報告》高盛上調網易-S(09999.HK)目標價至206元 季度純利勝預期
高盛發表報告指,網易-S(09999.HK)第三季純利按年升16%、好過該行及市場預期,毛利率及經營利潤率穩定提升,不過收入按年增長12%,差過市場預期,主要因為《蛋仔派對》(Eggy Party)表現較疲弱,抵銷《Justice mobile》的利好影響。
該行認為,網易在產品線推動市場份額提升方面,定位良好,在營運效益進一步改善下,盈利增長有望加快,將今年至2025年的收入預測下調2.7%至3.4%,反映遊戲收入較疲弱、派對遊戲競爭加劇,不過預期遊戲毛利率持續提升、銷售及推廣效益改善,因此純利預測上調2.5%至4%,維持「買入」評級,目標價由200元上調至206元。
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