Tencent Holdings Seems Poised For Earnings Recovery in 2023 -- Market Talk

Dow Jones2023-01-30

0229 GMT - Tencent Holdings' earnings are likely to continue to recover this year, say Citi analysts in a note. They expect delays in China's game licensing process to ease, which could result in more launches this year. As Tencent already has 49% of its existing mobile game pipeline already approved, this indicates a strong 2023 outlook, the U.S. investment bank adds. Further, Citi thinks that the growth of Tencent's online advertising, cloud and financial technology business segments could pick up in 2023. Citi raises its target price to HK$496.00 from HK$392.26 and maintains its buy rating. Tencent's shares are down 3.2% to HK$401.60. (yiwei.wong@wsj.com)

(END) Dow Jones Newswires

January 29, 2023 21:29 ET (02:29 GMT)

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They expect delays in China's game licensing process to ease, which could result in more...</p>\n\n<a href=\"http://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TCEHY","symbol_name":"腾讯控股ADR","start_time":0,"source_url":"http://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2307263412","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2307263412","pubTimestamp":1675045740,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0229 GMT - Tencent Holdings' earnings are likely to continue to recover this year, say Citi analysts","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"TCEHY":"腾讯控股ADR","00700":"腾讯控股"},"translate_title":"腾讯控股控股似乎为2023年的收益复苏做好了准备——市场对话","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"00700":1,"TCEHY":0.9},"content_text":"0229 GMT - Tencent Holdings' earnings are likely to continue to recover this year, say Citi analysts in a note. 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