智通财经APP获悉，网易云音乐(09899)涨近5%，截至发稿，涨4.85%，报203.2港元，成交额2.27亿港元。
消息面上，里昂此前研报指出，由于各平台战略定位及产品差异化，与字节跳动旗下汽水音乐直接爆发正面竞争的风险较低，网易云音乐目前以2026年经调整预测市盈率17倍交易，拥有抗经济周期的订阅模式，以及来自多重成本杠杆的稳健长期盈利潜力，目标价310.5港元。申万宏源表示，公司在差异化版权策略上足够坚定（独立音乐人、原创音乐人、特色版权等），迎合年轻用户的打法亦为中长期增长垫定基础，收入/利润双端潜力充足。
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