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<Research>Citi Expects TENCENT's 2025 Adjusted NP to Grow ~10%; TP Raised to HKD695
TENCENT (00700.HK)'s positive 1Q25 results with total revenue growth accelerating to 13% demonstrated to the market that the company is a high-quality, sustainable growth gener...
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<Research>Citi Expects TENCENT's 2025 Adjusted NP to Grow ~10%; TP Raised to HKD695
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TENCENT (00700.HK)  -7.500 (-1.455%)    Short selling $901.65M; Ratio 8.279%   's positive 1Q25 results with total revenue growth accelerating to 13% demonstrated to the market that the company is a high-quality, sustainable growth generative AI investment option, Citi opined in its research report.

Although the pace of AI investment may narrow the gap between TENCENT's profit and revenue growth, Citi believes that there will be no negative operating leverage. The broker raised its target price for the company from HKD670 to HKD695 and kept the Buy rating unchanged.

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For the full year, Citi estimated TENCENT's adjusted net profit to grow by 9.9% YoY, local and international game revenues to surge by 17% and 14.5%, and advertising and fintech as well as business services revenues to soar by 19.6% and 6.8%, respectively.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-16 16:25.)

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