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瑞銀:予騰訊(0700.HK)評級“買入” 對長遠前景感正面
格隆匯 10-24 11:27

瑞銀髮表研究報告,將騰訊(00700.HK)2019下半年及2020年的收入下調3%,主要是因為宏觀經濟、監管及競爭等不利因素持續存在所致;因廣告、視頻及金融科技業務的毛利率低,將其2019下半年及2020年盈利分別下調1%及7%。由此,該行將公司的目標價由原來的440港元下調至410港元,但仍維持“買入”投資評級,對長遠前景感正面。

該行預期,公司今年的經營利潤率將會增加約1個百分點,主要是由於其成本控制,但預期經營利潤率將會由2019年的30.5%下跌至2020年的29.3%,相信在2020年起金融科技的毛利率將有長期的改善,因為在支付業務方面的競爭應該會變得更為理性。

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