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<Research>CMSI Lifts TENCENT's TP to $621; 4Q24 Results Beat
Recommend 23 Positive 42 Negative 13 |
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TENCENT (00700.HK) beat forecasts with its 4Q24 results, CMSI noted in its research report. The company's revenue grew by 11% YoY, surpassing expectations by 2%, while its non-IFRS net profit increased by 30% YoY, exceeding expectations by 4%, benefiting from improved profit margins across various businesses. TENCENT also maintained strong growth momentum in the gaming and advertising sectors. By lifting its AI capital expenditure guidance, the company aims to leverage its solid social network moat to build a better AI ecosystem. CMSI kept an Overweight rating on TENCENT and elevated its target price from $500 to $621. AAStocks Financial News |
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