bullish
[Tencent(700 HK,BUY,TP HK$425)Target Price Change]: International Game and Advertising Drove Results
566 Views10 Nov 2023 16:13
SUMMARY
- We expect that Tencent’s C3Q23’s revenue/non-IFRS operating profit/IFRS net income to be 2.3%/3.3%/4.2% above consensus.
- We raised estimates of Tencent’s international game growth to 12% YoY to reflect the success. We also expect Tencent's advertising business to benefit from e-commerce advertisers’ competition.
- We raised the Target Price to HK$425, which implies 22.4X PE in 2024.
Begin exploring Smartkarma's AI-augmented investing intelligence platform with a complimentary Preview Pass to:
- Unlock research summaries
- Follow top, independent analysts
- Receive personalised alerts
- Access Analytics, Events and more
Join 55,000+ investors, including top global asset managers overseeing $13+ trillion.
Upgrade later to our paid plans for full-access.
or
Already have an account? Sign In Now
Discussions
(Paid Plans Only)
Rising
Blue Lotus Research Institute
China growth and global non-US Internet equities
Price Chart(Sign Up to Access)
- [Blue Lotus Hardware Sector Update]: What Does AI Phone Bring to the Tech Competition?24 Jan 2024
- [Blue Lotus Sector Update]: Latest Developments in Short Video Point to Possibilities20 Dec 2023
- [Tencent(700 HK, BUY, TP HK$432)Target Price Change]: More Sustained Growth Doesn’t Mean Slow Growth18 Nov 2023
- [Blue Lotus Internet Sector Update]: Increasing Marginalization of Middle-Sized Companies12 Oct 2023
- [Blue Lotus Entertainment Sector Update]: What Change Can Mate 60 Bring to Games and Apps22 Sep 2023
- [Blue Lotus Entertainment Sector Update]: Game Cannot Break the Tie of Hardware but AI Can15 Sep 2023
x