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2009-7-7 09:51:00 a.m. HKT, XFNA
DJ MARKET TALK: BNP Ups Tencent Target To HK$100 Vs HK$82
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| 0937 [Dow Jones] STOCK CALL: BNP Paribas raises Tencent (0700.HK) target to HK$100 from HK$82, after raising its FY09 earnings estimates by 23% for top line and 25% for bottom line to reflect strong IVAS (Internet value-added services) outlook (growth expected 78%, 38% on-year in FY09, FY10, respectively). "Leveraging its vast instant-messaging user base, the most complete service line and an open multi-game platform, Tencent should gain online gaming share in a market where big players take all." Keeps at Buy. Stock ended down 1.4% at HK$87.55 Monday.(SUT) Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com
(Delayed by 1 hour)
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