Credit Suisse: Maintain Tencent (0700. HK) "outperform the market" rating

$TENCENT(00700.HK)$ Credit Suisse released a research report saying that maintaining(0700. HK)The target price was lowered by 5.9% from HK $680 to HK $640, which reduced the forecast of earnings per share in 2021-22 by 0%-2%.

According to the report, Tencent's total revenue is expected to increase by 14% to 143.4 billion yuan in the third quarter (the same below). The adjusted net profit is expected to increase by 1% to 32.8 billion yuan. By market segment, mobile game revenue is expected to increase by 9%, mainly because flagship games remain stable without major new product releases. In addition, the recovery of the epidemic has led to weak offline payment, and financial technology and business services may slow down to 32% growth.