Morgan Stanley raises the target price for Tencent by 18.75%...
Morgan Stanley raises the target price for Tencent by 18.75%, from HK$480 to HK$570, reaffirming its "Buy" rating. Tencent remains Morgan Stanley's top pick in the sector.
Morgan Stanley expects Tencent's revenue and adjusted operating profit for Q3 2024 to increase by 7% and 16% y/y, respectively, with adjusted net profit rising by 25%.
Tencent's gaming segment continues to show strong growth, with an expected y/y revenue increase of 12.5% in Q3. Several major games are also in the pipeline.
Morgan Stanley expects Tencent's revenue and adjusted operating profit for Q3 2024 to increase by 7% and 16% y/y, respectively, with adjusted net profit rising by 25%.
Tencent's gaming segment continues to show strong growth, with an expected y/y revenue increase of 12.5% in Q3. Several major games are also in the pipeline.
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