BOC International Ups Tencent Target Price to HK$645, Reaffirms 'Buy' Rating
1 week ago / Read about 0 minute
Author:小编   

BOC International has revised upwards its target price for Tencent Holdings to HK$645, while maintaining a 'Buy' rating. The firm anticipates Tencent's second-quarter revenue and gross profit to surge by 12% and 17%, respectively. Specifically, online game revenue is forecasted to grow by 18%, and advertising revenue by 19%. As Tencent intensifies its investment in artificial intelligence, operating profit is projected to increase by 15%. BOC International is confident that Tencent's investments and integrated applications in AI will further propel the commercialization and operational efficiency of its core businesses.