[ET Net News Agency, 15 January 2018] Credit Suisse lifted its target price for Tencent
Holdings (00700) to HK$540 from HK$460 on better visibilities about its game pipeline and
competitive landscape, and reiterated its "outperform" rating.
The research house views the games pipeline for Tencent continues to be strong in 2018,
with QQ Speed kicking off with a good start in mobile games which ranked No. 2 in iOS
grossing table since the launch.
Credit Suisse believes that there will be a number of renowned titles replicated to PC
and new titles to be released in 2018, including mobile versions of JX Online III, DnF as
well as Lineage II during the year, other than the highly anticipated titles on PUBG.
With the normalisation of Honor of Kings in 2018, it believes that the new games are key
to drive growth. It estimated Tencent to continue to gain market share in mobile, with
smartphone revenue growing at 31% YoY, contributing 26% to the total revenue. (KL)
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00700 TENCENT
Nominal 
303.800 -0.600 (-0.197%) Others
15/01/2018 15:01
[I-bank focus]Credit Suisse lifts Tencent (00700) to HK$540
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