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Research Report

29/06/2020 18:01

Guotai Junan lifts Tencent Holdings (00700) to HK$555

[ET Net News Agency, 29 June 2020] Guotai Junan International lifted its target price
for Tencent Holdings (00700) to HK$555 from HK$500 and maintained its "buy" rating.
The research house said China's mobile games market scale increased by 11.9% MoM in May,
reaching RMB17.68 billion. Guotai believes that the new titles supply will be the growth
engine of the mobile games market in 2H.
It revised up its 2020-2022 online games revenue by 2.4%, 2.0% and 3.5%, respectively,
due to (1) expected strong performance of Tencent signature games such as HoK and
Peacekeeper Elite, and (2) the newly launched game Brawl Stars. (KL)

Remark: Real time quote last updated: 15/01/2021 17:59
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