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法巴:維持騰訊(0700.HK)目標價460港元 評級“買入”
格隆匯 12-03 15:27
法巴發表報告表示,維持騰訊(0700.HK) 以公允值估算之目標價460港元,更相信該股估值被低估,評級“ 買入 ”。該行預期騰訊今年收入按年升20%,相對於2018年度錄升25%;經調整經營利潤率為25.4%,去年度為23.9%;純利按年升18%,而去年度則升26%。
該行補充,預期騰訊2020年收入增速會加快至25%,主因有手遊《和平精英》及其他新遊戲帶來的貢獻。該行補充,騰訊擁有多個增長動力,當中預期非遊戲增值服務(VAS)收益之十年複合年均增長率為11%;網路廣告收入十年複合年均增長率為15%;至於來自金融科技及雲計算的十年複合年均增長率為18%。

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