HSBC Research lowers Tencent's target price to 425 yuan, maintains a "buy" rating.

AASTOCKS
2023.07.17 01:32
portai
I'm PortAI, I can summarize articles.

HSBC Global Research stated that TENCENT will announce its second-quarter performance on August 17th this year, and the bank's profit forecast remains largely unchanged. Taking into account the new equity costs and the reduction in the number of shares due to more buybacks, the bank has lowered the target price of TENCENT from 440 yuan to 425 yuan, while maintaining a "buy" rating.

HSBC Global Research stated that TENCENT (00700.HK) will announce its second-quarter performance on August 17th this year, and the bank's profit forecast remains largely unchanged. Taking into account the new equity costs and the reduction in the number of shares due to more buybacks, the bank has lowered the target price for TENCENT from 440 yuan to 425 yuan while maintaining a "buy" rating. The bank also pointed out that Prosus' reduction in holdings may cause short-term fluctuations in TENCENT's stock price. (ad/w)

Source: AASTOCKS The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.