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Research Report

13/08/2020 15:23

{I-bank focus}MacQ raises Tencent Holdings (00700) to HK$626

[ET Net News Agency, 13 August 2020] Macquarie Research raised its target price for
Tencent Holdings (00700) to HK$626 from HK$610 and maintained its "outperform" rating.
The research house said Tencent's 2Q earnings should act as a reassuring event for
investors that fundamentals are healthy amidst jittery news headlines that place Tencent
in the crosshairs of geopolitical tension.
Tencent management, calmly and reassuringly, shared its view that geopolitical tensions
should be isolated to Wechat, not Weixin, and that there are yet no signs of the situation
spilling over to other parts of its business.
Macquarie made minor adjustments to its earnings post the 2Q print, adjusting FY2021
non-GAAP EPS by +1%. (KL)

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