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<Research>HSBC Research: TENCENT Has Solid Fundamentals, Limited Impact from U.S. Tariffs
Recommend 15 Positive 20 Negative 12 |
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HSBC Global Research's report wrote that TENCENT (00700.HK) maintained solid fundamentals with limited impact from U.S. tariffs. The company’s game business demonstrated resilience amid macro uncertainty, and the quality of its management helped sustain investor confidence. The broker kept a target price on TENCENT of HKD630 and a Buy rating, noting that the company's over HKD80 billion stock repurchase plan this year, coupled with strong FCF generation, should further underpin its valuation. TENCENT is set to announce its 1Q25 results on May 14, with estimated revenue and non-IFRS operating profit growth of 11% and 13% YoY, respectively. Domestic and international gaming revenue was projected to rise 19% and 18% YoY, respectively. Due to a higher base, 1Q25 advertising revenue was expected to gain 12% YoY. AAStocks Financial News |
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