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04/02/2020 14:04

{I-bank focus}Nomura ups Tencent Holdings (00700) to HK$440

[ET Net News Agency, 4 February 2020] Nomura raised its target price for Tencent
Holdings (00700) to HK$440 from HK$437 and maintained its "buy" rating.
Tencent is scheduled to report 4Q 2019 results on 18 March. The research house looks for
24% revenue growth to CNY105bn, and non-GAAP EPS to come in at CNY2.64 (+28%). Advertising
likely fared better, with 26% revenue growth, primarily driven by the solid performance of
social ads and the recovery of media ads.
Nomura raised its revenue forecasts by 1% for both FY2020/21 but kept the EPS unchanged.
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