According to the provided web content, the following is a summary of the ratings and target prices for Tencent Holdings, JD.com, NetEase, and Meta:

1. **Tencent Holdings (0700.HK)**: Nomura Securities maintains a "Buy" rating on Tencent Holdings with a target price of HKD 400. The bank noted that Tencent has accelerated its pace of stock buybacks this year, which aligns with management's earlier commitment to returning more value to shareholders. Nomura expects Tencent's non-GAAP net profit for Q1 2024 to grow 33% year-over-year (YoY), while revenue is projected to grow 6% YoY due to weak performance in the online gaming business. Additionally, Tencent's online advertising revenue is expected to grow 19% YoY, with video account ads accounting for 13% of total revenue. As high-margin businesses like video account ads increase their revenue share, Tencent's gross margin is expected to expand by 3 percentage points YoY to 49%, supporting the company's strong 33% profit growth.

2. **JD.com (9618.HK)**: Fubon Securities maintains a "Buy" rating on JD.com with a target price of HKD 147. The bank expects JD.com's Q1 revenue and profit performance to meet expectations and maintains its assumptions for JD Retail's revenue and operating profit margin.

3. **NetEase (9999.HK)**: Goldman Sachs maintains a "Buy" rating on NetEase but lowers the target price from HKD 210 to HKD 202. The bank points out market concerns about the sustainability of NetEase's game "Wind Rises in Luoyang" and the underwhelming revenue performance of "The Legend of the Condor Heroes."

4. **Meta (META)**: Citigroup names Meta as its top industry pick, raising the target price from $525 to $590 and maintaining a "Buy" rating. The bank states that due to sustained engagement improvements, it has raised its Q1 ad tracking expectations for Instagram Reels by 90 basis points to 20%. According to SenorTower data, daily active users spent 4% more time on Instagram in Q1. With the company's latest ad innovations, new AI video structures, and overall ad adoption rates, Citigroup believes demand for Reels and the company will continue to improve. 14%, with earnings per share at $24.23.