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《大行》中金:騰訊(00700.HK)收入增長強勁 目標價升至700元
阿思達克 08-14 14:50
中金發表研報指出,騰訊控股(00700.HK)今年第二季收入按年增長14.5%至1,845億元人民幣,分別高於該行及市場預期3.5%、3.1%。預計今年第三季廣告收入按年增長18.6%。雲計算業務方面,中金測算今年第二季企業服務收入按年增長19%,展望後續,中金認為,2025下半年公司遊戲收入仍可維持較快的按年增長。 基於騰訊各項業務的快速增長,中金分別上調騰訊2025、2026年收入2%、4%至7,453億、8,158億元人民幣,基本維持2025年、2026年非國際財務報告準則(Non-IFRS)淨利潤預測不變。維持「跑贏行業」評級,由於市場估值中樞抬升,上調目標價17%到700港元,基於AI更長遠的賦能前景,切換估值至2026年,對應2026年20倍Non-IFRS市盈率。
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