《大行》花旗續列騰訊(00700.HK)為行業首選 目標價升至735元
花旗發表研究報告指,騰訊(00700.HK)第二季收入按年增長加快至15%,反映其在營銷服務、遊戲及企業服務等領域的AI投資成效顯著。受惠於國內遊戲、視頻號、微信搜索等高利潤業務增長及成本管控措施下,毛利增長22%,經營利潤及淨利潤增速分別達18%及20%。
花旗認為,騰訊已成功將AI技術應用於遊戲製作、玩法設計、推廣及廣告推薦轉化等環節,有助於強化生態系統競爭力。展望未來,隨著長青遊戲收入穩健增長、《Valorant》手遊上線、《三角洲行動》貢獻提升、廣告平台升級及企業GPU需求增加,花旗相信騰訊各項業務增長路徑將更趨明確,重申「買入」評級及行業首選地位,目標價上調至735元。
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