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00700 TENCENT
RTNominal down591.000 -14.000 (-2.314%)
Research Report

17/07/2020 14:54

{I-bank focus}Credit Suisse raises Tencent (00700) to HK$641

[ET Net News Agency, 17 July 2020] Credit Suisse raised its target price for Tencent
Holdings (00700) to HK$641 from HK$540 and maintained its "buy" rating.
Tencent will report 2Q result on 12 August. The research house expects revenue growth of
27% to Rmb112.9bn and an adjusted net profit of Rm30bn, +30%.
Credit Suisse continues to see a solid momentum from mobile games and social ads. It
expects 50% mobile game revenue growth supported by strength from flagship titles,
deferral revenue carried from 1Q, and strong momentum in overseas contribution.
Social ads is expected to stay robust and up 31%, helped by booming e-commerce demand.
PC games and media ads will likely continue to stay weak. Fintech and other businesses are
expected to pick up to 33% as offline payment normalised by end-April. (KL)

Remark: Real time quote last updated: 30/10/2020 17:59
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