《大行報告》摩通:予內地通訊服務板塊明年「增持」評級 喜愛騰訊、網易及百度
摩根大通發表報告指,內地通訊服務相關股份,上周五受網絡遊戲監管草案的消息拖累,不過當局政策方向轉趨溫和,以及批出遊戲版號數量增加,市場氣氛已大致恢復。該行認為市場日前對騰訊(00700.HK)及網易(09999.HK)的拋售反應過大,對內地通訊服務行業持「增持」評級,行業動態市盈率11.8倍,屬多年以來的低水平。
該行認為,媒體及娛樂行業可以基於周期分析而及時買入,偏好騰訊、網易及百度(09888.HK)。各股份的估值分歧主要反映監管方向對龍頭股較為有利,AI方面的發展成本高昂,因此龍頭股在AI的執行能力方面有較佳定位。
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