[ET Net News Agency, 17 July 2019] Credit Suisse lifted its target price for Tencent
Holdings (00700) to HK$469 from HK$428 and maintained its "outperform" rating.
With the ease of regulatory headwinds on online games, the research house believes 1Q
marked the low point for Tencent and the upcoming 2Q, that would not only show a bottoming
out of earnings but an improvement of quality (more diversified game contribution).
Credit Suisse expects growth momentum picking up in the coming quarters driven by a
strong performance of recently launched games, a solid pipeline, and continued share gain
in advertising. Meanwhile, Credit Suisse sees tailwind on the margin side from a potential
lowering of game channel fee and monetization upside on the payment side.
Overall, it forecast earnings CAGR of 24% in 2018-21. (KL)
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00700 TENCENT
Nominal 
348.400 +9.000 (+2.652%) Others
17/07/2019 17:27
[I-bank focus]Credit Suisse lifts Tencent (00700) to HK$469
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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