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<Research>CLSA Lifts TENCENT's 2025-26 Adj. NP Forecasts w/ TP Raised to HKD740
Recommend 16 Positive 22 Negative 9 |
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According to CLSA's research report, TENCENT (00700.HK)'s 2Q25 results beat expectations, with revenue/ adjusted operating profit growing by 15%/ 19% YoY, 4%/ 8% higher than the broker's expectations. In addition, TENCENT's core businesses, namely online games, advertising, and cloud services, achieved around 20% growth. Optimistic about the launch of Valorant Mobile this month and the continued empowerment of various businesses through AI technology, CLSA raised its 2025-26 adjusted net profit forecasts for TENCENT by 2%/ 3%. TENCENT's target price was increased by the broker from HKD710 to HKD740, with a High-Conviction Outperform rating remaining unchanged. AAStocks Financial News |
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