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<Research>JPM: TENCENT (00700.HK) 3Q Results Strong w/ TP $685 & Rating Overweight
Recommend 5 Positive 13 Negative 2 |
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TENCENT (00700.HK) delivered a strong 3Q25 results, with revenue/ adjusted EPS exceeding market expectations by 2%/ 7% respectively, according to JPMorgan's research report. Adjusted operating profit and net profit both rose by 18% YoY, outpacing revenue growth by 3 ppts. On the other hand, capital expenditure during the period decreased by 32% QoQ to RMB13 billion, which the broker believed will be a key point for management to address. The share price is expected to react positively in the short term. Therefore, JPMorgan now rated TENCENT at Overweight, with a target price of $685. AASTOCKS Financial News Website: www.aastocks.com |
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