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《大行報告》里昂降騰訊(00700.HK)目標價至440元 宏觀環境不明朗
阿思達克 01-26 10:32
里昂發表報告指,騰訊(00700.HK)的2024微信公開課聚焦於培植視頻賬戶電商及小遊戲生態系統,兩者均提供具有盈利能力的收入模式,其中視頻賬戶串流未來將會推動廣告、支付平台及企業服務增長,小遊戲則有高毛利率及確認淨收入的潛力。 該行預期,騰訊去年第四季總收入按年增長放緩至8%,主要因為海外遊戲業務疲弱,但受惠於毛利率提升,經調整息稅前盈利(EBIT)料按年增長28%,估計毛利率得以持續擴充,貨幣化提升,基於宏觀環境不明朗,將目標價下調至440元,維持「買入」評級。 騰訊的微信公開課活動,是讓生態開發者、服務商及客戶等共同交流的平台。
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