招银证券:给予腾讯控股(00700.HK)“增持”评级 目标价445.00港元

2024-04-15 21:01:13 来源: 同花顺金融研究中心

  招银证券4月15日发布公告。Maintain BUY. We are positive on Tencent’s earnings growth in1Q24/2024E (+31/18% YoY). In addition, the increase in shareholder return(FY24E share repurchases + cash dividends equivalent to ~5% of currentmarket cap) should further support Tencent’s valuation. We see Tencent’scurrent valuation of 15x FY24E PE (12x FY24E PE excl. strategicinvestment value) remains attractive. Key catalysts: 1) launch of DnF Mobilein 2Q24 supporting games business recovery; 2) better-than-expectedexpansion of ad/FBS GPM; 3) increasing shareholder return.

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