《大行報告》大摩:騰訊(00700.HK)取代阿里(BABA.US)成首選股 重申「增持」評級
摩根士丹利發表報告,預期騰訊(00700.HK)利潤率的自然增長可以持續,視頻賬戶廣告業務穩定增長,股東回報有提升潛力,維持「增持」評級及目標價430元,並取代阿里巴巴(BABA.US)成為該行首選股份,反映明年核心市盈率預測15倍。
該行認為,在內地互聯網龍頭中,騰訊以往具有估值溢價,因為收入增長強勁、盈利具透明度。近日加快股份回購亦支持股價表現,推動盈利增長的正面因素包括遊戲業務全球化、社交網絡廣告貨幣化、提供更多金融科技產品、以及在消費及工業互聯網方面作出策略提升。
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