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<Research>BofAS Sees Clear Valuation Re-rating Pathway for TENCENT (00700.HK), Reiterates Buy Rating
Recommend 33 Positive 39 Negative 16 |
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BofA Securities issued a research report saying that TENCENT (00700.HK)'s 4Q25 results mitigated the risk for full-year earnings estimations, and seeing a clear path for valuation re-rating, including the launch of Hunyuan 3.0 and more large language model (LLM) upgrades within the next six months, accelerated capital expenditure and cloud revenue over the next 6-12 months, and the introduction of Weixin Agent in the next 9-18 months. Considering the rise in TENCENT's AI investment, the broker lowered its 2026/ 2027 non-IFRS net profit forecasts by 4%/ 3%, and kept its target price at $780, with rating reiterated at Buy. AASTOCKS Financial News Website: www.aastocks.com |
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