[ET Net News Agency, 31 December 2019] Huatai Research lifted slightly its target price
for Tencent Holdings (00700) by 2.5% to HK$449 and maintained its "buy" rating.
The research house believes Tencent will maintain dominance in its three core consumer
internet business, namely online gaming, advertising and social network services (SNS),
and deliver stable earnings growth in the next few years.
The profitability of its fintech services will improve gradually as industry competition
has rationalized and Tencent has amassed critical size, Huatai noted. It believes Tencent
will make continuous inroads in enterprise digitization ecosystem, technologies, and
infrastructure, as it prepares for a long-term transition. (KL)
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00700 TENCENT
Nominal 
348.400 +9.000 (+2.652%) Research Report
31/12/2019 10:22
{I-bank focus}Huatai ups Tencent Holdings (00700) to HK$449
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