Jefferies has just issued a research report, in which it keeps its 'Buy' recommendation for Tencent Holdings (00700) and hikes the target price from HK$706 to HK$794. The revenue growth in Tencent's marketing services sector was propelled by several factors driven by AI technology. Meanwhile, its fintech and business services segment saw gains from the accelerated expansion of non - payment and cloud businesses. Jefferies has once again named Tencent as its top investment choice for 2026. The firm holds the view that AI will act as a driving force for growth across Tencent's diverse range of businesses. In the third quarter, Tencent managed to achieve growth by implementing its online gaming portfolio strategy. The game 'Delta Force' hit a significant milestone in terms of daily active users in September 2025 and is anticipated to become a long - lasting, popular game (an evergreen game).