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中银国际:重申腾讯(00700)“买入”评级 目标价上调至418港元

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中银国际发布报告称,在多重催化剂推动下,腾讯(00700)各项业务将继续保持高质量增长,因此维持“买入”评级,目标价上调至418港元,以反映盈利增长前景,而各业务估值维持不变。公司上季非国际财务报告(non-IFRS)准则下净利润同比增长39%,经调整净利润率达29.1%,季度利润显著扩张,且大幅超出市场预期。

报告中称,公司今年第三季总收入同比增长10%,至1,546亿元人民币,符合市场及该行预期。当中增值服务、广告、金融科技及商业服务收入分别同比增长4%、20%和16%,毛利率显著提升至49.5%,三大业务毛利率均持续增长,同时实现收入结构调整及成本效率改善。

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