Stephen Dixon 15:41 20/10/2020

$700 HSBC Global Research in its report restated #Buy on TENCENT at the target price $687, added from $655

While the tech giant will report its 3Q20 results on 12 November, the broker expected the top-line growth of 28%, non-GAAP OP growth of 39% and non-GAAP EPS of RMB3.548.

The broker opined that the rising focus on Tenpay’s valuation may drive TENCENT's fintech value to nearly US$200 billion, roughly 23% of its SOTP.