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<Research>M Stanley Lifts TENCENT's TP to HKD650, Anticipates Stable Rev. & Earnings Growth for 2Q25
Recommend 13 Positive 22 Negative 8 |
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Morgan Stanley has released a report expecting TENCENT (00700.HK)'s 2Q25 revenue and earnings growth to remain solid on the back of strong growth in its gaming and advertising businesses as well as a mild recovery in its financial and business services (FBS). Specifically, TENCENT's revenue and non-IFRS operating profit are anticipated to increase by 11% and 14%, respectively. Although the operating profit leverage effect will narrow due to greater investment in AI, the profit margin is still likely to expand continuously. Morgan Stanley reaffirmed TENCENT as its top pick, which reflected its sturdy revenue and profit growth as well as limited exposure to ongoing competitive risks. The broker reiterated an Overweight rating for the company, with a target price raised by 3% from HKD630 to HKD650. AAStocks Financial News |
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