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研报掘金丨中金:维持腾讯目标价600港元及“跑赢行业”评级不变
格隆汇 05-16 14:10
中金发表报吿,维持腾讯控股(0700.HK)目标价600港元及“跑赢行业”评级不变,并上调其今明两年收入预测2%及4%,至7308.36亿元及7841.96亿元。腾讯首季收入同比增13%,至1800亿元,高于中金预期2.4%,及高于市场预期2.5%,主要受游戏、广吿收入超预期;非国际财务报吿准则盈利升22%,至613亿元,亦高于中金及市场预期1%及3%,受惠多项业务毛利率超预期。基于腾讯广吿和游戏收入的快速增长,故调高今明两年收入预测。不过,仍面对监管风险、新游戏上线不及预期,以及成本或费用率高于预期。中金料腾讯今明两年非国际财务报吿准则盈利分别为2546.57亿元及2802.84亿元,预期今明两年市盈率20.1倍及18倍。
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