Tencent Shares Have 'Priced in' Gaming Crackdown, Jefferies Says – Bloomberg

Further clampdowns on online gaming have been baked into Tencent Holdings Ltd.’s shares and the company stands to benefit from potential unlocking of gaming patents, according to Jefferies.
Tencent has been a key victim of China’s unprecedented crackdown on its tech sector, with its shares down nearly 40% from a record high in January. Jefferies maintains its buy rating on the stock and expects a 16% revenue growth in the third quarter.