[ET Net News Agency, 11 November 2021] UBS lowered its target price for Tencent (00700)
to HK$600 from HK$630 and maintained its "buy" rating.
The research house said it lowers mobile games revenues by 2-3% going forward to fully
reflect new regulations on minor gamers, and lowers ads revs. by ~10% in the next year to
reflect recent regulatory impacts and a slower recovery. (RC)