大行評級丨大摩:上調網易目標價4%至151美元 重申“增持”評級
摩根士丹利發報告指,過去1-2個月,由於競爭格局分化,資金紛紛流出外賣領域,網遊受惠。其中,大摩認爲網易(NTES.O)佔據最佳位置,其積極的業務發展足以證明集團優異表現的合理性。故重申“增持”評級,並上調美股目標價4%,由145美元升至151美元。展望第二季,大摩預期網易遊戲收入年增12%,經調整盈利增長20%。據最近的市場回饋表明,市場對第二季盈利預期的關鍵變數是營銷費用的節省。但該行認爲這並不重要,因網易已經提供了其長期營銷費用率的指引。因此,大摩建議專注其收入增長和產品線,尤其是其在海外市場的進展。
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