CMB International: Upgrades Tencent Holdings (00700.HK) Target Price to 635 Hong Kong Dollars, Reaffirms "Outperform" Rating

According to the Securities Times APP, Industrial Bank International has released a research report stating that it has raised its revenue forecast for Tencent Holdings (00700.HK) for the fiscal years 2025 to 2027 by 2%, and its profit forecast by 1 to 2%. It is expected that the revenue, operating profit, and profit for the fiscal year 2025 will increase by 11%, 17%, and 12% respectively. The target price has also been raised from HK$630 to HK$635. Due to the sustainable profit growth of the group, the long-term development of Tencent's artificial intelligence business, unique examples of artificial intelligence, and the monetization of the WeChat ecosystem in the medium to long term, the stock is reiterated with an "outperform the market" rating.