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<Research>BOCI Projects TENCENT 1Q Rev. to Grow 5% YoY, to Focus on High Quality Growth Strategy
Recommend 13 Positive 23 Negative 13 |
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TENCENT (00700.HK) will announce its 1Q24 results on 14 May, BOCI said in its report. Its revenue was expected to grow moderately by 5% YoY to RMB157 billion, whereas GPM and adjusted NPM meet street consensus at 49.7% and 27.3%. The broker considered that the Group's focus on a high quality growth strategy provides visible financial certainty going forward. It expected revenue growth of the company to accelerate YoY in 2Q-4Q24E; coupled with a strong capital return plan, the broker maintained its Buy rating and target price of $407 on TENCENT. AAStocks Financial News |
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