Mar 25, 2021 11:02 AM (GMT+8) · EqualOcean
Daiwa released a research report, raising the target price of Tencent holdings by 2.4% from HK $850 to HK $870, with a "buy" rating. According to the report, the company's performance in the fourth quarter of last year met expectations. Although the growth of PC and smartphone game revenue was slightly lower than the bank's expectation, the contribution of overseas market was surprising, accounting for 25% of the total game revenue. Revenue from smartphone games is expected to grow 19% year-on-year this year, and potential game launches, such as League of Heroes: Jidou Canyon, may lead the bank to raise its forecast for the second half of this year.