Tencent 0700 02 (Jan 15 - Aug 18)

Re: Tencent 0700 02 (Jan 15 - Dec 18)

Postby winston » Mon Aug 06, 2018 10:07 am


<Research Report>JPM Trims TENCENT (00700.HK) Profit Forecast, Target to $480

JP Morgan commented that the downside risks of 2Q Internet profit in Mainland China, was larger than upside risks, mainly hit by industry headwinds.

The research house upheld cautious view on the short-term share price of the sector due to gloomy 2Q prospect, and hence cut TENCENT (00700.HK) 2018E and 2019E non-GAAP EPS by 6% and 4% to factor in the approval delay of PUBG.

JP Morgan maintained the tech giant at Overweight with target price trimmed to $480 from $500.

Source: AAStocks Financial News
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