Report
Marie Sun
EUR 147.86 For Business Accounts Only

Initiating Coverage of Tencent ADR With FVE of USD 28 per ADR

We are initiating coverage of Tencent's ADRs (TCEHY US) with a fair value estimate of USD 28 per ADR, using a foreign exchange rate of 6.66 Chinese yuan/1 US dollar. We maintain our narrow moat and stable moat trend ratings and believe Tencent is a long-term winner in the Chinese Internet sector, with multileg growth drivers. Tencent has built up a comprehensive ecosystem centered in social networking in China. Weixin, the mobile messaging app launched in January 2011, has reached 806 million mo...
Underlying
Tencent Holdings Ltd.

Tencent Holdings Limited is an investment holding company principally involved in the provision of value-added services (VAS) and online advertising services. The Company operates through three main segments. The VAS segment is mainly involved in provision of online/mobile games, community value-added services and applications across various Internet and mobile platforms. The Online Advertising segment is mainly engaged in display based and performance based advertisements. The Others segment is mainly involved in provision of payment related services, cloud services and other services.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Marie Sun

Other Reports on these Companies
Other Reports from Morningstar

ResearchPool Subscriptions

Get the most out of your insights

Get in touch