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<Research>CMS Elevates TENCENT (00700.HK) TP to $700, Keeps Rating at Overweight
Recommend 7 Positive 12 Negative 5 |
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TENCENT (00700.HK)'s 2Q25 results beat expectations, with revenue growing 15% YoY, 3% ahead of forecast, China Merchants Securities (CMS) released a research report saying. Non-IFRS net profit increased by 10% YoY, also 3% above estimation, mainly benefiting from improved profit margins across various business segments. All business lines showed strong growth momentum under AI empowerment. Hence, the broker raised its FY2025/ FY2026 earnings forecasts. With its strong social network moat and AI technology, AI agents, advertising, AI product commercialization and AI-driven profit margin expansion are expected to bring potential earnings and valuation upside opportunities for TENCENT. Therefore, CMS kept rating at Overweight, as it was optimistic about the Company's unique market position, and elevated its target price from $670 to $700. AASTOCKS Financial News Website: www.aastocks.com |
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