CMB Securities: Raise Tencent Holdings (00700.HK) target price to 700 Hong Kong dollars, maintain "buy" rating.

According to the Wisdom Finance APP, CMB Securities released a research report stating that Tencent Holdings (00700.HK) currently has a valuation of 18 times/16 times earnings for the 2025/2026 fiscal year, which is at historical average levels compared to Chinese peers at 17 times/15 times and American peers at 25 times/23 times. With its strong social network moat and AI technology, it is expected that AI agents, advertising, commercialization of AI products, and AI-driven profit margin expansion will bring potential benefits and valuation growth opportunities for Tencent. The company's unique market position is highly regarded, and the target price has been raised from 670 Hong Kong dollars to 700 Hong Kong dollars while maintaining a "hold" rating.