Macquarie: Maintains Tencent Holdings "Outperform" rating with a target of HKD 676
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Macquarie released a research report stating that Tencent launched 13 new games at the annual Game Night last night. At the same time, it released updates and new features for 18 existing games, as well as 8 games it has invested in. Overall, Macquarie believes that Tencent's strong gaming performance and improvement in deferred revenue year-to-date can support its healthy segment market outlook, and the new games are expected to bring further growth opportunities and profit potential, maintaining an "outperform" rating and a target price of HKD 676
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