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RTNominal up645.000 +15.500 (+2.462%)
Research Report

23/07/2020 15:22

{I-bank focus}CICC lifts Tencent Holdings (00700) to HK$531

[ET Net News Agency, 23 July 2020] CICC Research lifted its target price for Tencent
Holdings (00700) by 29% to HK$531 and maintained its "neutral" rating despite a relatively
rich valuation.
Tencent will report 2Q earnings on 12 August. The research house expects revenue to grow
26% to Rmb112bn, but margin might be pressured by extra marketing spending on games,
fintech and business service (FBS). CICC expects 2Q non-GAAP net profit to grow 21% to
CICC expects the share price to be supported in the short term by the upcoming launch of
DnF Mobile (12 August) and LoL Mobile. (KL)

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