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23047 MBTENCT@EC2110A (CALL)
RT Nominal unchange0.010 0.000 (0.000%)

25/03/2021 13:58

{I-bank focus}Daiwa lifts Tencent Holdings (00700) to HK$870

[ET Net News Agency, 25 March 2021] Daiwa Research lifted its target price for Tencent
Holdings (00700) to HK$870 from HK$850 and maintained its "buy" rating.
The research house said Tencent announced in-line 4Q 2020 results on 24 March. Daiwa
turned more positive on its overseas gaming contribution and monetisation upside from
Video Accounts. It views the upcoming game pipeline (eg, League of Legends: Wild Rift, DnF
mobile), favourable app store commission cut that bodes well for VAS gross margin, and
mitigating regulatory concerns on its Fintech businesses as the catalysts in the near
Daiwa trimmed its 2021 mobile game revenue by 2% to factor in the higher base in 2020.

Remark: Real time quote last updated: 17/09/2021 17:59
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