中金:维持腾讯音乐-SW(01698.HK)跑赢行业评级 上调目标价至114.5港元

智通财经
Aug 13, 2025
【中金:维持腾讯音乐-SW(01698.HK)跑赢行业评级 上调目标价至114.5港元】智通财经APP获悉,中金发布研报称,因腾讯音乐-SW(01698.HK)音乐非订阅业务好于预期,上调25/26年Non-IFRS净利润6.8%/13.0%至94.6/112.1亿元。当前港股对应26.8/22.3倍、美股对应26.7/22.2倍25/26年Non-IFRS P/E。维持跑赢行业评级。鉴于行业估值中枢上移,上调港/美股目标价43.1%/42.0%至114.5港元/29.4美元,港、美股均对应35/29倍25/26年Non-IFRS P/E,分别有29.7%/29.5%上行空间。

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