BNP Paribas raised its target price for Tencent (00700) to HK$525 from HK$465, and maintained its "buy" call.
With 272m monthly active users (MAU) as of Sep 2013, Tencent's WeChat has emerged as a formidable mobile platform in 2013, said the research house. This puts it in a strong position to capture the significant monetisation potential of mobile Internet in 2014.
With some games (eg Timi Cool Run) generating monthly revenue run-rates of over RMB100m, BNP believes its old assumptions were too conservative. Hence, it raised its mobile game revenue estimates for 2013 from RMB1.9bn to RMB2.2bn, for 2014 from RMB3.7bn to RMB6.5bn and for 2015 from RMB5.5bn to RMB9.7bn.
etnet榮獲HKEX Awards 2023 「最佳表現證券數據供應商」大獎► 了解詳情
