Huaxing Securities: Raises Tencent Holdings Limited's target price to HKD 520, reiterates "Buy" rating

Huaxing Securities released a report stating that switching to the 2025 forecast value, SOTP valuation, reiterated a "buy" rating on Tencent Holdings and raised the SOTP target price to HKD 520.00, maintaining revenue forecasts for online advertising, financial technology, and enterprise services. The overall operating environment of the group remained stable during the 3Q24 period, driven by "Dungeon & Fighter Mobile", Longevity Games, and deferred revenue balance, improving the predictability of game growth

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