0530 GMT - Tencent's move to integrate DeepSeek into its messaging app will likely help WeChat's long-term growth potential, according to Morningstar analyst Ivan Su. The move suggests that Tencent is prioritizing functionality and user experience over exclusivity, Su says in a research note. While the development won't boost earnings immediately, it strengthens WeChat's role in the daily lives of the 1.3 billion app users, building its intangible-asset moat source and positioning it for long-term monetization growth through greater usage, the analyst says. Despite the recent rally, he notes that Tencent's stock still trades at a roughly 30% discount to Morningstar's estimate of its fair value, which is maintained at HK$704.00. Shares are 3.3% higher at HK$510.00. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
February 18, 2025 00:30 ET (05:30 GMT)
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