[ET Net News Agency, 27 July 2021] Nomura lowered its target price for Tencent (00700)
to HK$698 from HK$731 and maintained its "buy" rating.
The research house said it cuts FY21F/22F non-GAAP net profit by 5%/9% on lower online
gaming revenue. It is now looking for 12% growth in online gaming revenue and 13% earnings
growth in FY21F vs previously forecasted 16% and 19%, respectively. (RC)