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RTNominal down580.000 -18.500 (-3.091%)
Research Report

28/01/2021 15:14

{I-bank focus}Daiwa lifts Tencent Holdings (00700) to HK$850

[ET Net News Agency, 28 January 2021] Daiwa Research lifted its target price for
Tencent Holdings (00700) to HK$850 from HK$700 and reiterated its "buy" rating.
The research house expects Tencent's game business profitability to benefit from the
declining app store commission rate in 2021-22. Daiwa also likes Tencent's initiatives in
mini-games and cloud gaming to expand its influence in the future game market in China.
It has turned more positive on the Weixin ecosystem after attending Weixin Open Class
Pro 2021 and sees more monetisation opportunities ahead. With more use cases on Weixin,
Daiwa believes the increasing marketing demand on Weixin will further fuel the revenue
growth of Tencent's social advertising segment. Daiwa raised its 2021-22 earnings
forecasts by 1-3% on higher game GPM assumptions. (KL)

Remark: Real time quote last updated: 13/05/2021 17:59
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