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Research Report

01/02/2021 16:32

{I-bank focus}Credit Suisse lifts Tencent (00700) to HK$800

[ET Net News Agency, 1 February 2021] Credit Suisse lifted its target price for Tencent
Holdings (00700) to HK$800 from HK$735 and maintained its "outperform" rating.
The research house said Weixin released version 8.0 for iOS and Android respectively.
This is one of the most major updates of the app in recent years, with a focus on (1)
videolisation of content and further integration of Shipinhao within the Weixin ecosystem;
(2) enhancement of livestreaming capability; and (3) reinforcing the social feature and
connectedness of the app.
After a year of rapid development, Shipinhao has become one of the largest short-video
platforms in China and could be a key asset to improve user engagement within the entire
Weixin ecosystem, Credit Suisse said.
With continued content enrichment, Credit Suisse sees meaningful ad potential in
Shipinhao while the enhanced livestreaming capabilities also help further unlock
e-commerce upside within the Weixin ecosystem. (KL)

Remark: Real time quote last updated: 10/05/2021 10:41
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