Weekly Recap | TENCENT -2.28%, consensus target sits well above spot
Weekly Review·
- Tencent Holdings fell by 2.28 % to close at 428.4 HKD over the week, slightly outperforming the Hang Seng Index by 0.11 percentage points amidst subdued trading volume.
- Key events during the week included Bilibili transitioning Tencent from an equity holder to a creditor, and the high-profile IPO of Tencent-backed Enflame Technology.
- A total of 44 institutions maintained a consensus strong buy rating on Tencent with an average target price of 663.99 HKD, representing an upside potential of about 55 %.