CICC International: Optimistic about Tencent Music's leadership position and sustainable profitability. Target price of 105.7 Hong Kong dollars.

According to the Wisdom Financial APP, CICC International released a research report stating that it is bullish on Tencent Music-SW (01698.HK) for its leadership position and sustainable profitability, benefiting from its differentiated business model, high-quality content and user base, as well as diverse sources of income. The bank maintains an "outperform" rating with a target price of 105.7 Hong Kong dollars, believing that the recent price pullback provides a good buying opportunity.