大行評級|里昂:上調騰訊音樂目標價至64.3港元 上調經調整淨利潤預測
里昂發表報吿指,騰訊音樂去年第四季業績展現穩健的執行力,推動每付費用户平均收入增長,同時維持每季淨增約200萬付費用户。公司每付費用户平均收入略好於預期、超級會員穩步進展、毛利率強勁、管理層對音樂價值鏈商機的正面基調以及廣吿增長都是亮點。該行認為,騰訊音樂多項人工智能措施有助提升用户體驗及豐富音樂消費情景,令消費時間大幅增加。該行將公司目標價由62.2港元上調至64.3港元,並維持“跑贏大市”評級,對其收入預測基本保持不變,但將2025至2027年的經調整淨利潤預測各上調4%,至88億、104億及118億元。
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