1346 days ago • Posted by Charles-Henry Monchau
Goldman is raising its target price on Tencent
On Tencent's US exposure: "we estimate WeChat has <5mn users in the US vs. its combined MAU of 1.2bn, and its portfolio holdings in the US assets listed totaled c.US$26bn, i.e. 3.6% of its NAV". On the fundamental story; "Looking ahead, Tencent's game tech, IP and portfolio, and the launch of major titles, mDnF, CODm and WildRift should drive the company's market share gains and therefore earnings. Meanwhile, the portfolio of 800 companies, worth US$165bn (see Exhibit 18), continues to create shareholder value. Based on Tencent's investment track record, the gaming giant is also one of the world's most successful tech investors that adds significant value to 100s of its investees via providing capital/strategic/operational resources" (source: The Market Ear)
