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<Research>BofAS Hikes TENCENT (00700.HK) TP to $690; Rating Buy
Recommend 14 Positive 26 Negative 12 |
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BofA Securities released a research report on TENCENT (00700.HK), of which 2Q25 results beat, with revenue accelerating to a 15% YoY increase, reaching RMB185 billion (3% above forecast). The expansion of gross margins across various business segments offset the cost impact brought by artificial intelligence. The broker held a positive view on the group's business growth and raised its profit forecast for 2025-27 by 2%. Entering 2H25, the broker expected the ads business to maintain growth above the industry average, FBS to further recover, game revenue to be underpinned by evergreen games, and the upside potential of new games, with operating profit continuing to grow. BofA Securities raised its target price on TENCENT from HKD631 to HKD690, reiterating its Buy rating. AASTOCKS Financial News Website: www.aastocks.com |
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