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<Research>Citi Elevates TENCENT (00700.HK) TP to $751, Reiterates Rating at Buy
Recommend 8 Positive 20 Negative 5 |
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TENCENT (00700.HK) continued its 2Q25 momentum, with 3Q25 revenue growing by 15% YoY, according to a research report issued by Citi Research. Gross profit/ operating profit/ net profit demonstrated faster growth rates, increasing by 22%/ 18%/ 18% YoY respectively, benefiting from high-margin revenue sources such as internally developed games, video accounts, Weixin search and optimized productivity costs, although partially offset by strategic hiring of AI talents. The broker maintained a constructive view on TENCENT, which continued to demonstrate solid execution, driving stable and sustainable revenue and profit growth, meanwhile actively pursuing AI goals in enterprise and user applications. After adjusting its forecasts, Citi Research elevated its target price from $735 to $751, with rating Buy and top-pick and AI investment target status reiterated. AASTOCKS Financial News Website: www.aastocks.com |
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