Deutsche Bank: Tencent's stock price may experience Fluctuation in the near future, but there is a buyback plan as support

On January 8th, Jin10 Data reported that Deutsche Bank analyst Leo Chiang stated in a research report that Tencent Holdings (00700.HK) stock may experience fluctuations in the near future after being listed as a military industrial enterprise by the US Department of Defense. However, this should not affect Tencent’s business operations. Tencent should be able to resolve any misunderstandings, as some companies have already been removed from the Pentagon’s list. Despite recent fluctuations in the stock price, the company’s strong buyback plan should support its stock price. Deutsche Bank maintains a buy rating on Tencent and maintains its target price at HKD 540.