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<Research>HSBC Research Raises TENCENT (00700.HK) Game Rev. Growth Forecasts, Elevates TP to $780
Recommend 4 Positive 10 Negative 5 |
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Despite the high base from Dungeon and Fighter in 2H25, TENCENT (00700.HK)'s better-than-expected sell-through from Delta Force prompted HSBC Global Research to raise its 2025/ 2026 domestic game revenue growth forecasts for TENCENT by 3/ 6 ppts each to 18%/ 12%, HSBC Global Research published a research report saying. International games are also on a better-than-expected trajectory, benefiting from strong performances in PUBG Mobile, Clash Royale and Clash of Clans, offsetting the high base impact from Brawl Stars. Therefore, the broker raised its 2025 international game revenue growth forecast for TENCENT by 9 ppts to 28%. HSBC Global Research lifted its 2025/ 2026 revenue growth forecasts for TENCENT by 2 ppts/ 1 ppt to 14%/ 11% respectively, and increased its profit forecasts by 2-3%. The broker also elevated its target price from $715 to $780, with rating at Buy. AASTOCKS Financial News Website: www.aastocks.com |
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