BofA Merrill Lynch raised its target price for Tencent Holdings (00700) to HK$638 from HK$554, and maintained its "buy" call.
The research house sees a partnership with Dianping as offering opportunities for quicker adoption of Tencent's online payment and marketing solutions including Weixin payment and GDT targeted ads for as much as hundreds of thousands of offline merchants (O2O) such as restaurants, KTVs, and other life service providers.
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