[ET Net News Agency, 24 January 2022] Citi lowered its target price for Tencent (00700)
to HK$634 from HK$682.33 and maintained its "buy" rating.
The research house said it adjusted 2021-2023E revs/non-GAAP NP by -0.7%/-0.5%,
-3.5%/-3% and -2.4%/-2.6% respectively to reflect continued macro and regulatory
challenges in online ad revs, slower domestic games revs and community platform revs. (RC)