CICC: maintain Tencent's "neutral" rating, with a target price of HK $328
$CICC(03908.HK$ said it would introduce the valuation of Tencent in 2023. As the macro environment is still likely to continue to affect the company's business, it was decided to cut its 2023 revenue by 1% to 619.6 billion yuan and its 2023 adjusted net profit forecast by 1% to 144.3 billion yuan. Maintain the "neutral" rating, and cut the target price by 20% to HK $328, which corresponds to the non IFRS P/E ratio of 18.9 times next year.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment