HSBC Research lowers Tencent's target price to 425 yuan, maintains a "buy" rating.
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HSBC Global Research stated that TENCENT will announce its second-quarter performance on August 17th this year, and the bank's profit forecast remains largely unchanged. Taking into account the new equity costs and the reduction in the number of shares due to more buybacks, the bank has lowered the target price of TENCENT from 440 yuan to 425 yuan, while maintaining a "buy" rating.
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