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Tencent added to APAC Conviction List at Goldman Sachs

Goldman Sachs analysts added Tencent to the firm’s APAC Conviction List as part of its Directors’ Cut July update. The firm expects “visible and sustainable” profit growth of 20%-plus, driven by new game titles and advertising market share gains from advertising technology upgrades. Goldman has a Buy rating on the shares with an HK$477 price target.

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