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Tencent price target raised to $48 from $36 at Barclays
The Fly

Tencent price target raised to $48 from $36 at Barclays

Barclays analyst Jiong Shao raised the firm’s price target on Tencent to $48 from $36 and keeps an Equal Weight rating on the shares. The analyst says the firm’s latest checks suggest both gaming and advertising trends and the 2023 outlook are improving at Tencent. Domestic gaming is "finally poised to grow again," the analyst tells investors in a research note.

Published first on TheFly

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