On March 21, Jin Shi Data reported that CMB International released a research report indicating that Tencent Holdings (00700.HK) recorded a total revenue rise of 11% year-on-year in the last quarter, exceeding the bank's and market expectations by 3% and 2% respectively, mainly due to better-than-expected growth in gaming and marketing business revenues. Non-IFRS net income rose 30% year-on-year, in line with the bank's forecast. CMB International mentioned that Tencent plans to further invest in AI this year, which will unlock long-term growth opportunities in artificial intelligence, cloud, marketing, and gaming businesses. The bank raised the group's total revenue forecast for the fiscal years 2025 and 2026 by 1%, increasing the target price from HKD 525 to HKD 625, and maintained a "buy" rating.
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Robiul6T9
· 03-21 03:14
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CMB International: Raises Tencent's target price to HKD 625, strengthening AI investment to release long-term rise opportunities.
On March 21, Jin Shi Data reported that CMB International released a research report indicating that Tencent Holdings (00700.HK) recorded a total revenue rise of 11% year-on-year in the last quarter, exceeding the bank's and market expectations by 3% and 2% respectively, mainly due to better-than-expected growth in gaming and marketing business revenues. Non-IFRS net income rose 30% year-on-year, in line with the bank's forecast. CMB International mentioned that Tencent plans to further invest in AI this year, which will unlock long-term growth opportunities in artificial intelligence, cloud, marketing, and gaming businesses. The bank raised the group's total revenue forecast for the fiscal years 2025 and 2026 by 1%, increasing the target price from HKD 525 to HKD 625, and maintained a "buy" rating.