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<Research>M Stanley Predicts TENCENT, as Sector Top Pick, to Grow 4Q Rev., OP by 8%, 19%
Recommend 23 Positive 33 Negative 12 |
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TENCENT (00700.HK) is predicted to grow revenue and OP by 8% and 19% respectively in 4Q, being listed as a sector top pick, and maintained a target price of $570 and an Overweight rating, according to a research report from Morgan Stanley. The broker expected the company's game growth to accelerate to 15% YoY in 4Q, while ads growth will slow to 14% in 4Q in lack of one-off momentum amid soft macro environment. Fintech and business services (FBS) growth will remain weak at 2% YoY vs. 3Q, while non-GAAP OP will remain solid in 4Q, with GP expansion set to continue. The broker believed the resumption of buybacks post results could bolster the stock price. AAStocks Financial News |
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