Daiwa: Raises Tencent Holdings (00700.HK) target price to 650 Hong Kong dollars, expects steady growth in revenue and profit in the second quarter.

According to the financial news app Wisdom News, Morgan Stanley released a research report stating that Tencent Holdings (00700.HK) is their top pick, reflecting its stable income and profit growth, as well as limited exposure to continuous competitive risks. They also reiterated a "hold" rating. Using the classification sum calculation method, the target price was raised by 3% from the original 630 Hong Kong dollars to 650 Hong Kong dollars, corresponding to an expected price-to-earnings ratio of 18 times in 2026, with some upside potential compared to the current valuation of 15 times.