According to the Zhito Finance APP, Citibank released a research report stating that it reiterates the 'Buy' rating for TENCENT (00700), viewing the recent share price pullback as a good opportunity to further 'Buy', with the Target Price remaining at 573 Hong Kong dollars.OTCThe share price and major shareholder Prosus's share price fell over 7% to 8% during the trading period in the USA market, impacted by recent media reports.

The firm continues to state that investors are usually quite sensitive, therefore, TENCENT's share price may be pressured in the short term, but it believes the overall growth outlook and business fundamentals remain unchanged. Citibank stated that it understands the market's panic reaction, but it also believes being placed on the list does not necessarily mean there is sufficient evidence to confirm it was the right decision. The firm believes TENCENT will strive to cooperate with the USA Department of Defense to resolve any misunderstandings and noted that several companies successfully removed from the list last year after providing effective explanations.