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<Hindsight>Brokers' Ratings/ TPs for TENCENT Post-Quarterly Results
Recommend
15
Positive
25
Negative
9
Broker│ Rating│ TP (HKD)
Jefferies│Buy│794
BofA Securities│Buy│780
Goldman Sachs│Buy│770
Nomura│Buy│757
Citi│Buy│731-> 751
Daiwa│Buy│750
BOCI│Buy│656-> 740
CLSA│ High Conviction Outperform│740
Morgan Stanley│Overweight│700-> 735
CICC│Outperform│700
JPMorgan│Overweight│685
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Broker│ Opinion
Jefferies│ Revenue and earnings beat expectations
Citi│ core operations were strengthened while developing AI agent
BofA Securities│ Advertising business was strong, while game business was in line with forecasts, with QoQ decline in capital expenditure
Goldman Sachs│All businesses were solid and beat projections
Nomura│ Online game business drove higher-than-expected revenue
Daiwa│ AI introduction fueled advertisement growth
BOCI│ Quarterly results beat expectations, with surprising overseas games, continuing executing solid AI strategy
CLSA│ Game and advertising persistently beat forecasts, while enhanced AI capabilities and ecosystem stickiness drove revenue growth
Morgan Stanley│ All segments demonstrated solid performance
CICC│ Game performance was strong, with ongoing AI deployment
JPMorgan│ Results were solid

Related NewsCLSA: TENCENT (00700.HK) 3Q Game & Ads Performances Beat; TP $740

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