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<Research>CCBI Elevates TENCENT (00700.HK) TP to $717, Rating Outperform
Recommend 7 Positive 16 Negative 7 |
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TENCENT (00700.HK) recorded a 15% YoY increase in total revenue for 2Q25 to RMB185 billion, CCBI released a research report saying. Gross profit margin was 56.9%, up 3.6 ppts YoY, beating forecast. Non-IFRS operating profit rose 15% YoY to RMB67.4 billion, basically in line with expectation, while non-IFRS net profit inclined by 10% YoY to RMB63.1 billion, ahead of both the estimations of the broker and market. CCBI raised its 2025/ 2026/ 2027 revenue forecasts for the Group by 2%/ 3%/ 3%, and earnings forecasts for the same period by 3%/ 5%/ 5%, respectively. The broker elevated its target price from $635 to $717, with rating kept at Outperform. AASTOCKS Financial News Website: www.aastocks.com |
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