CICC: Maintains Tencent's "Outperform" rating with a target price of HKD 468

Zhitong
2024.10.10 02:23

CICC released a research report stating that it maintains a "outperform" rating on Tencent Holdings. The revenue forecast for 2024/2025 remains unchanged. Due to the impact of macro factors on revenue structure, the Non-IFRS net profit for 2024/2025 has been lowered by 2.5% and 3.4% to RMB 218 billion/RMB 249.1 billion respectively, with a target price of HKD 468. The bank has updated its tracking of Tencent, expecting the company's gaming business to show rapid growth in the second half of the year, while maintaining high-quality profit margin improvement and active shareholder returns

Source: Zhitong The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.