Quote | Super Quote
Super Quote   |   Detail Quote   |   Interactive Chart   |   Transaction   |   Related News   |   Related Securities   |   Company Information   |   Dividend Records   |   Short Sell
00700 TENCENT
RTNominal down608.000 -5.500 (-0.896%)
Research Report

18/01/2021 17:21

{I-bank focus}Morgan ups Tencent Holdings (00700) to HK$720

[ET Net News Agency, 18 January 2021] Morgan Stanley raised its target price for
Tencent Holdings (00700) to HK$720 from HK$650 and maintained its "overweight" rating.
The research house forecast 4Q revenue at Rmb129.2bn (+22% YoY, +3% QoQ), reflecting
mobile game and FinTech normalization, partially offset by resilience in ads amid demand
recovery. It estimated 4Q non-IFRS OP at Rmb37.4bn (+23% YoY, -2% QoQ) on milder
high-margin gaming revenue and G&A uptick.
On the positive side, Morgan sees healthy momentum from new game launches such as
"Moonlight Blade", "Wild Rift", and "CoD Mobile", with limited cannibalization to legacy
titles thus far.
For FinTech & Business Services (FBS), Morgan sees revenue at Rmb37.9bn (+27% YoY), with
FinTech rising 23% YoY to reflect a normalization of volume in 2Q 2020 and revenue in 3Q
2020. It expects FinTech revenue to rise 25% YoY in 2021 to reflect Tencent's prudent
approach amid regulatory concerns. (KL)

Remark: Real time quote last updated: 13/04/2021 17:59
  Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service
A Member of HKET Holdings
Customer Service Hotline:(852) 2880 7004     Customer Service Email:cs@etnet.com.hk
Copyright 2021 ET Net Limited. http://www.etnet.com.hk ET Net Limited, HKEx Information Services Limited, its Holding Companies and/or any Subsidiaries of such holding companies, and Third Party Information Providers endeavour to ensure the availability, completeness, timeliness, accuracy and reliability of the information provided but do not guarantee its availability, completeness, timeliness, accuracy or reliability and accept no liability (whether in tort or contract or otherwise) any loss or damage arising directly or indirectly from any inaccuracies, interruption, incompleteness, delay, omissions, or any decision made or action taken by you or any third party in reliance upon the information provided. The quotes, charts, commentaries and buy/sell ratings on this website should be used as references only with your own discretion. ET Net Limited is not soliciting any subscriber or site visitor to execute any trade. Any trades executed following the commentaries and buy/sell ratings on this website are taken at your own risk for your own account.