Haitong International: Downgrades Tencent Holdings (00700.HK) target price to HKD 480, performance roughly in line with expectations.

According to Zhitong Finance APP, Haitong International has published a research report stating that it has lowered its earnings per share forecast for Tencent Holdings (00700.HK) for 2026/2027 by 3%/10%, to reflect the current burden of forward-looking AI investments, and has reduced the target price by 9%, from HKD 525 to HKD 480. It maintains a positive outlook on Tencent's long-term prospects and reaffirms the "outperform" rating.