[ET Net News Agency, 16 October 2019] Daiwa Research cut its target price for Tencent
Holdings (00700) to HK$410 from HK$420 and maintained its "buy" rating.
The research house hosted a non-deal roadshow (NDR) with Tencent on 8-11 October.
Investors were mainly interested in Tencent's game performance, and the potential launch
of smartphone game titles in China.
With the stock correcting by 12% since its recent peak in July, Daiwa believes the
market has factored in weak advertising revenue. It sees the potential share price upside
from better-than-expected smartphone game revenue for 2H.
Daiwa adjusted its 2019-21 earnings forecasts by 1%/-1%, after trimming our advertising
and FinTech and business services revenue but have turned incrementally more positive on
its margin profile. (KL)
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00700 TENCENT
Nominal 
402.200 +14.600 (+3.767%) Others
16/10/2019 10:16
{I-bank focus}Daiwa cuts Tencent Holdings (00700) to HK$410
| Remark: | Real time quote last updated: 24/09/2024 17:58 |
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