Lates News

Morningstar analyst Ivan Su reported that the number of game approvals recently approved by relevant departments has surged, and Tencent is likely to benefit from this. Su predicts that Tencent's revenue will increase by 13.1% and 10.4% in 2025 and 2026, respectively, with adjusted earnings per share expected to rise by 20.1% this year. The analyst pointed out that the relevant departments in China approved 463 game licenses in the third quarter, a year-on-year increase of 34%. The year-on-year growth rate from the beginning of the year to September was 23%, indicating that the Chinese gaming industry is expected to achieve double-digit growth in the coming quarters. Morningstar believes that Tencent's stock price is undervalued, with a 20% discount to its valuation, and maintains a fair value estimate of $102.00 for Tencent ADR.