[ET Net News Agency, 16 January 2020] HSBC Global Research lifted its target price for
Tencent Holdings (00700) to HK$483 from HK$417 and maintained its "buy" rating.
The research house sees deeper value in Tencent's under-monetized WeChat, which should
drive faster growth in its key businesses. Consequently, HSBC raised its FY2020/21
estimates by 4/3%.
Tencent announced on 9 January that WeChat will soon launch short content (i.e. short
video), which could pose structural changes to the competitive landscape, which is now led
by Douyin and Kwai. (KL)