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<Research>CMS Raises TENCENT (00700.HK) TP to $650 as Steady AI Development to Boost Profit Growth
Recommend 9 Positive 17 Negative 3 |
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TENCENT (00700.HK)'s 1Q25 results beat expectations, driven by profit improvement, China Merchants Securities (CMS) published a research report saying. Of which, revenue increased by 13% YoY, 3% ahead of forecast, while non-IFRS net profit rose by 22% YoY, beating estimation by 3%. The Group's game and advertising businesses maintained strong growth momentum, driven by AI, the report added. CMS anticipated that the Group's advertising revenue will incline by 19% YoY this year. Therefore, the broker raised its target price for TENCENT from $621 to $650, with rating kept at Buy, and maintained the stock as its sector top pick. AASTOCKS Financial News Website: www.aastocks.com |
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