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Nomura Cuts TENCENT(00700.HK) TP to $520, Reiterates Buy
Nomura stated in its report that TENCENT(00700.HK)  -17.400 (-4.026%)    Short selling $941.92M; Ratio 10.185%   's 4Q17 revenue missed estimates, dragged by lower online gaming revenue. The research house expected the mobile game revenue of TENCENT will see strong rebound with estimated full-year growth of 43%.

The broker trimmed the projected 2018-19 EPS by 4% and 6% and reiterated the rating Buy on TENCENT at the target price $520, down from $536, indicating a 20% upside.

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