[ET Net News Agency, 4 June 2019] HSBC Global Research raised its target price for
Tencent Holdings (00700) to HK$466 from HK$460 and maintained its "buy" rating.
The research house hosted a post-results conference call with Tencent yesterday. HSBC
believes that the market might have overlooked the upside from FinTech and Smart retail
segments. HSBC sees faster growth and better margins as the customer base diversifies and
more revenue opportunities are crystalizing.
Within FinTech, Tencent sees the highest margin in WeiLiDai (micro-loan for consumers),
over LiCaiTong and payment. Also, positive momentum was seen in LingQianTong, launched in
Nov 2018 (similar to Ant's Yu'E Bao, unused cash balance can earn interests).
The unique positioning of Smart retail with an integrated chain of mini-program, ads,
and FinTech Solutions differentiated it from its close competitor - especially for
merchants that prioritize the use of the social network in their Industrial Internet
solutions. (KL)
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00700 TENCENT
Nominal 
332.400 +12.000 (+3.745%) Research Report
04/06/2019 13:50
[I-bank focus]HSBC raises Tencent Holdings (00700) to HK$466
| Remark: | Real time quote last updated: 23/04/2024 17:59 |
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