[ET Net News Agency, 18 February 2020] Citi Research raised its target price for
Tencent Holdings (00700) to HK$484 from HK$424 and maintained its "buy" rating.
The research house said online games, videos, and social networking activities have been
positively benefited from the coronavirus outbreak, and together with a solid games
pipeline, growing overseas grossing and Supercell's consolidation, games revenues would
likely see growth reacceleration.
Fintech business will likely temporarily see softer payment transactions in 1Q in light
of the virus, while cloud and business services revenues should positively benefit and see
accelerated growth later post virus.
Following its estimate revision reflecting recent trends, Citi raised its 2021 non-GAAP
EPS of HK$17.299 (from HK$16.976). (KL)
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Outstanding Qty | % Implied Volatility
18411 GSMTUAN@EP2407A (PUT)
Nominal 
0.114 +0.014 (+14.000%) 18/02/2020 17:54
{I-bank focus}Citi raises Tencent Holdings (00700) to HK$484
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