Mizuho raised the firm’s price target on Tencent to HK$310 from HK$300 and keeps a Neutral rating on the shares. While the company’s sales were roughly on track with expectations, games saw headwinds from monetization stagnation, offset by outperformance in advertising, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on TCEHY:
- TCEHY Earnings: Tencent Plans to Double Buybacks Post Sales Disappointment
- TME Earnings: Tencent Music Drops a Q4 Beat
- Is TCEHY a Buy, Before Earnings?
- Epic wants judge to hold Apple in contempt over App Store moves, Bloomberg says
- Circana analyst tells GI.biz 2% 2024 game spending dip an ‘optimistic’ outlook
