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<Research>G Sachs Adds TENCENT's TP to HKD701; AI Drives Growth Across Biz Lines
Recommend 9 Positive 14 Negative 1 |
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According to a Goldman Sachs research report, TENCENT (00700.HK) delivered vigorous 2Q25 results that achieved the fastest revenue growth in four years and the highest GPM in history. The above achievements have reinforced Goldman Sachs' view of TENCENT as one of the most advantaged companies in China's internet sector. Leveraging its unique WeChat ecosystem and global gaming assets, TENCENT fueled growth across all its business lines (gaming, advertising, fintech, cloud, and e-commerce) through AI applications. Among them, two major high-quality revenue sources (gaming and marketing services) have maintained a YoY growth rate of 20% or more for back-to-back quarters. Goldman Sachs has raised its 12-month target price for TENCENT from HKD658 to HKD701 and kept the Buy rating unchanged. With its strong 2Q25 performance, TENCENT remains the broker's core investment choice in China's internet sector, with gaming as the preferred sub-sector. AAStocks Financial News |
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