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Prosus: UBS initiates coverage as a buyer

( - UBS has begun monitoring the Prosus share, which was recently introduced on the Amsterdam Stock Exchange, with an initial buy rating.

The broker has set a 12-month target price of 90 euros, meaning almost 30% upside potential.

With Prosus, analysts can play the Chinese digital giant Tencent, to which investors can become exposed to, at a discount. More generally, with its other assets (with the jewel in the crown being a 31% stake in Chinese tech titan Tencent), Prosus can be seen as a technological gamble on emerging growth.

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