Tencent’s overseas game recovery overlooked, target price raised to HK$438 – UBS
Tencent’s overseas game recovery overlooked, target price raised to HK$438 – UBS

Tencent’s overseas game recovery overlooked, target price raised to HK$438 – UBS

 

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The recovery of Tencent's overseas games seems to have been overlooked by investors, UBS said in a note.

Supercell, a Finnish mobile game company that Tencent acquired earlier this year, is expected to resume growth in the first quarter of 2024, with revenues expected to surge as much as 82%, and as Supercell contributed about 10% of Tencent's game revenue, it's expected to directly boost Tencent's growth, the bank said, citing industry data.

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