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<Research>Jefferies: TENCENT Top pick in APAC Internet on Diversified Biz, GPM Increase Story
Recommend 21 Positive 30 Negative 10 |
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In a meeting with European investors last week, investors seem to be interested in the sustainability and earnings growth of the internet sub-sector in the Asia-Pacific region (except Japan), amidst the macroeconomic downturn and geopolitical tension, Jefferies released a research report saying. The main focuses are the demand for travel and local services, upcoming new games and the regulatory approvals of games, the landscape of the domestic and overseas online shopping market, and the macro headwinds on advertising, etc.. Investors seem to prefer companies with more stable market shares, with fewer players in the sector and higher quality growth potential, believing that TENCENT (00700.HK) becomes Jefferies' top pick for the sector in the region considering its "high quality growth strategy" with diversified development model and gross profit margin expansion story, Jefferies added. AAStocks Financial News |
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