Citigroup: Tencent's third-quarter revenue and adjusted profit may increase, raising the target price to HKD 573

Citigroup analysts pointed out in a research report that Tencent's revenue and adjusted profit in the third quarter may increase. Citigroup expects Tencent's performance to be "relatively consistent" with the average expectations, with potential game revenue growth being offset by weakness in financial technology services and online advertising revenue. Citigroup maintains a buy rating on Tencent and raises the target price from HKD 535.00 to HKD 573.00, as it expects Tencent's profit to grow

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