Tencent's 1Q Results Surprised on the Upside; Increasing FVE to HKD 265/USD 34

Increasing Tencent's Moat to Wide; New FVE Is HKD 311 or USD 40

Tencent's Honor of Kings Was Criticized by People's Daily; Maintain FVE

China Online Gaming: Structural Shifts Reinforce Tencent and Netease. Tencent Remains Our Top Pick

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New Street Research

Research is provided by our team of experienced analysts. Our work is idea driven, based on independence of thought, sector expertise, and firmly focused on fundamentals and valuation of telecoms and internet names globally. New Street is headquartered in London with offices in New York, Singapore and Australia. 

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

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Global Emerging Market Telecoms
Japan Telecoms
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We also provide debt research on:
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Equity Bottom-Up

<p><a href="https://www.smartkarma.com/entities/26" target="_blank" data-smartkarma-citation="entities:26:1">Tencent (700 HK)</a> has been our top thematic pick on the strength of its wireless platform. Recent reports from the company highlight the consistent traffic growth while the breadth of service offerings from WeChat support that. There is also evidence that Tencent is narrowing the market share gap in mobile payments with market leader Alipay. We are raising our target price to HK$260 (from HK$232) to reflect the potential in payment services and after updating our numbers for Q4 results. We remain…</p>

Tencent (700 HK) has been our top thematic pick on the strength of its wireless platform. Recent reports from the company highlight the consistent traffic growth while the breadth of service offerings from WeChat support that. There is also evidence that Tencent is narrowing the market share gap in mobile payments with market leader Alipay. We are raising our target price to HK$260 (from HK$232) to reflect the potential in payment services and after updating our numbers for Q4 results. We remain…

Tencent's WeChat Is China's Dominant Mobile Gateway