《大行》大華繼顯:騰訊控股(00700.HK)次季業績強勁 目標價升至736元
大華繼顯發表研報指出,騰訊控股(00700.HK)今年第二季業績超出預期。收入按年增長14.5%至1,845億元人民幣,較該行及市場一致預期高3%。毛利率按年擴張3.6個百分點至56.9%,超出市場預期。該行維持對騰訊「買入」評級,將目標價從650元上調至736元,意味著相當於2026年預測市盈率22倍。
該行分別上調騰訊2025年第三季和2025年收入預測3%和1%,分別代表按年11.6%及12.6%的收入增長;又上調騰訊2025年第三季非國際財務報告準則淨利潤預測3%,但2025年預測保持不變,意味著2025年第三季和2025年分別為8%和12%的按年增長,以及34.5%與34%的淨利潤率。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.