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<Research>HTSC Elevates TENCENT's TP to $505.43; Game Rev. Expected to Speed up in 4Q
Recommend 13 Positive 24 Negative 6 |
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Huatai Securities released a research report indicating that TENCENT (00700.HK) logged an 8.1% YoY increase in 3Q24 revenue, basically aligning with market expectations. Its adjusted net profit grew by 33.2% YoY, surpassing expectations by 11.4%, mainly due to investment gains and improved tax rates. Huatai Securities anticipated that Tencent's games revenue will accelerate in 4Q24, and that the incremental growth of the mobile game "Dungeon & Fighter" during the Spring Festival in FY25 will be a catalyst. The broker lifted its target price for Tencent's H-shares from $495 to $505.43 with a Buy rating unchanged. AAStocks Financial News |
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