智通财经APP获悉，德银发布研报称，腾讯音乐-SW(01698)线上音乐业务预期可保持稳健增长，加上社交娱乐业务的负面影响逐渐减弱，相信今年收入增长将加快。该行指，在有效的促销活动以及超级会员数量提升的支持下，相信2025年及往后订阅付费率和付费用户每月平均收入都仍有很大的增长空间，毛利率亦将持续提升，目前预测今年收入及经调整净利润将同比增长9%及16%，毛利率将扩大至45%，将今明两年收入预测分别上调1%及2%，经调整净利润预测上调各7%，目标价从51港元上调至69港元，评级从“持有”调升至“买入”。
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