According to Goldman Sachs’ latest research report, the buy rating of tencent will be maintained, but it will be deleted from the list of purchases; the target price is raised from 85 Hong Kong dollars to 92 Hong Kong dollars, and the target earnings will be raised from 23 times for fiscal year 2010 to 25 times (based on non-GAAP earnings per share), representing a premium of 10% of market value.

Goldman Sachs said that driven by the emergence of buying rounds actions for the Internet stocks and the first quarter net profit growth of 94 percent over the same period than previous year, since December 15 Tencent have been included in the list, its 84 percent rise significantly outperformed the Morgan Stanley Capital International China Index’s 29 percent increase over the same period, reaching the previous target price of 85 Hong Kong dollar, and so it is no longer in the list.