Tencent replaced Alibaba to become top pick, rating maintained at Overweights – Morgan Stanley
Tencent replaced Alibaba to become top pick, rating maintained at Overweights – Morgan Stanley

Tencent replaced Alibaba to become top pick, rating maintained at Overweights – Morgan Stanley

 

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Morgan Stanley expected Tencent's natural growth in profit margins to be sustainable, with steady growth in its video account advertising business and potential to boost shareholder returns.

The bank maintained an Overweight rating on Tencent stocks, with a target price of HK$430, reflecting 15x core P/E ratio for next year.

Tencent also replaced Alibaba to become the . . .

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