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Research Report

09/02/2021 11:54

BOCOM lifts Tencent Holdings (00700) to HK$873; "buy"

[ET Net News Agency, 9 February 2021] BOCOM International Research lifted its target
price for Tencent Holdings (00700) to HK$873 from HK$680 and maintained its "buy" rating.
Tencent will release 4Q 2020 results on 24 March. The research house expects revenue to
rise 26% to RMB133.3bn, with game/social/fintech+cloud/advertising growing 39%/22%/30%/10%
BOCOM expects adjusted EPS to be RMB3.42. It expects Weixin's ecosystem continues to
improve, by forming a complete closed-loop that provides integrated solutions for
merchants, leading to further monetization potential.
Compared with platforms that offer social and merchant services, Weixin's user value
should be assessed by its transactions and monetization potential, BOCOM said. It believes
Weixin has room to further monetize both 2B and 2C businesses. (KL)

Remark: Real time quote last updated: 10/05/2021 11:00
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