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<Research>Daiwa Lifts Rev. & Earnings Forecasts for TENCENT w/ TP Raised to HKD750
Recommend 10 Positive 13 Negative 3 |
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TENCENT (00700.HK)'s 2Q25 revenue/ adjusted EPS grew by 15%/ 13% YoY, in line with market expectations, according to Daiwa's research report. Seeing that TENCENT continued to drive growth across its business segments, Daiwa is optimistic that the strong growth momentum in its gaming business will carry into 2H25. Specifically, "Delta Force" and "Clash Royale" are anticipated to help maintain double-digit growth in TENCENT's 2H25 gaming revenue. Coupled with the launch of Valorant Mobile this month, which is believed to serve as a short-term catalyst, gaming revenue is likely to maintain double-digit increases through 2026. Based on the better-than-expected growth prospects for TENCENT's gaming business, Daiwa raised its 2025-27 revenue and EPS forecasts for the company by 1-5%/ 3-6%. Its target price was also lifted from HKD670 to HKD750, with a Buy rating reiterated. AAStocks Financial News |
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