Tencent Holdings Limited (SEHK: 0700) today experienced stock price rise in the morning, with market cap reaching HKD 774.982 billion or USD 100 billion, becoming the first Chinese Internet company to do so. Its stock price has swelled more than 10000% since its listing in 2004, when the figure was only USD 4.
Citigroup released the latest research report, lifting up target price for Tencent to HKD 480, the most optimistic outlook among foreign brokers. Citigroup believed that mobile game market will experience rapid future growth, thanks to popularization of low-price Android smart phones and business shift by Tencent from PC to mobile phone field.
Source:
http://www.sinocast.com/readbeatarticle.do?id=99521
