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研報掘金|中金:上調網易雲音樂目標價至198港元 去年業績勝預期
格隆匯 02-24 11:04
中金髮表報吿指,網易雲音樂去年業績勝預期,去年收入按年上升1.1%至79.5億元,大致符合該行及市場預期;Non-IFRS純利按年大幅上升至17億元,高於該行和市場預期,主要由於有效控制銷售和利息支出。中金指,考慮到社交娛樂業務的持續調整和銷售費用的有效控制,上調網易雲音樂2025年和2026年的Non-IFRS純利預測18.1%和12.2%,至分別17.8億元和19.3億元。該行維持對其“跑贏行業”評級,並考慮盈測調整及行業估值重評,將目標價調高32%至198港元,相當於預測今年非國際財務報吿準則市盈率22倍。
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