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00700 TENCENT
RTNominal down608.000 -5.500 (-0.896%)
Research Report

13/11/2020 17:21

{I-bank focus}BOCOM lifts Tencent Holdings (00700) to HK$659

[ET Net News Agency, 13 November 2020] BOCOM Research lifted its target price for
Tencent Holdings (00700) to HK$659 from HK$627 and maintained its "buy" rating on positive
outlook of games and great potential in mini-programs.
The research house said Tencent's 3Q results beat consensus. BOCOM expects 4Q revenue of
RMB132.9bn, up 26% YoY/6% QoQ, on successful new games and recovery cloud business, and
adjusted net profit of RMB34.5bn, up 36% YoY with NPM (net profit margin) flat at 26%.
For 2020/21, BOCOM expects 28%/24% growth in revenue and 32%/20% growth in net profit.
(KL)

Remark: Real time quote last updated: 13/04/2021 17:59
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