CMB International Securities: Raises Tencent Holdings (00700.HK) target price to 766 Hong Kong dollars. Continued innovation in artificial intelligence drives strong growth.

According to the Securities Times APP, CMB International Securities released a research report stating that based on profit forecast adjustments and moving forward the valuation cycle, the target price of Tencent Holdings (00700.HK) has been raised from 700 Hong Kong dollars to 766 Hong Kong dollars. The target valuation multiple remains unchanged, meaning that this corresponds to forecasted P/E ratios of 25 times and 22 times for the 2025 and 2026 fiscal years, respectively; with a rating of "hold". Tencent currently has forecasted P/E ratios of 21 times and 19 times for the 2025 and 2026 fiscal years, respectively, compared with 17 times and 15 times for Chinese peers and 28 times and 28 times for American peers.