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00700 TENCENT
RTNominal down388.600 -0.200 (-0.051%)
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20/11/2017 17:37

[I-bank focus]DB lifts Tencent Holdings (00700) to HK$450

[ET Net News Agency, 20 November 2017] Deutsche Bank lifted its target price for
Tencent Holdings (00700) to HK$450 from HK$347, and maintained its "buy" rating.
The research house thinks the next chapter in Tencent's story revolves around
optimization and monetization of its non-game digital content (e.g. news , video) even as
games and payment continues to grow organically.
DB said investment into digital content may come at lower profitability than games,
adding pressure to valuation, but justified by its expanding and entrenching dominance as
the social media, and ultimately, a business with pricing power. (KL)

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