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<Research>UBS Raises TENCENT (00700.HK) TP to $588 as 3Q Adj. Operating Profit in Line
Recommend 20 Positive 36 Negative 10 |
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TENCENT (00700.HK)'s 3Q24 revenue rose 8% YoY, in line with expectations, UBS released a research report saying. Adjusted operating profit was 1% higher than expected, while adjusted net profit hiked 33% YoY, beating projection by 11%. UBS believed that TENCENT's current valuation is undemanding, and forecasted its FY2025 PE ratio to be 13x. The broker also estimated its FY2024-FY2026 EPS to grow at a CAGR of 16%. Therefore, UBS raised its target price for TENCENT's H-share from $580 to $588, with rating kept at Buy. AAStocks Financial News |
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