[ET Net News Agency, 2 November 2023] UBS lowered its price target for Tencent (00700)
to HKD419 from HKD460 and maintained its "buy" rating.
The research house said it expects 3Q23 total revenue to rise 9.6% YoY to Rmb153bn, with
an adjusted net profit of Rmb40.5bn (+26% YoY).
In revenue by segment, it expects online games up 9%, led by international; ads up 22%
on VA ramp-up and an ad tech upgrade; and steady FBS, up 15%. (RC)