Yamato: Tencent Holdings (00700.HK) game revenue confirmation timing slightly lags in the first quarter, target price lowered to 700 Hong Kong dollars, rated as "buy"

Wisdom Finance APP learned that Daiwa released a research report stating that it reiterates a "buy" rating on Tencent Holdings (00700.HK) and has lowered the 12-month target price calculated by the sum-of-the-parts valuation method (SOTP) from 710 Hong Kong dollars to 700 Hong Kong dollars, equivalent to an average forecasted P/E ratio of 19.3 times for 2026 to 2027. Downside risks include weaker-than-expected game and advertising sales, as well as higher-than-expected AI spending.