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＜Research＞Haitong Int'l Elevates TENCENT (00700.HK) TP to $477, Raises 2024 Rev./ NP Forecasts
Haitong International issued a research report basically maintaining TENCENT (00700.HK) -5.400 (-1.360%) Short selling $2.10B; Ratio 19.325% 's 2Q24 revenue forecast at RMB161 billion, up 8% YoY and 1% QoQ.
Non-IFRS net profit is expected to hike by 30% YoY and drop 3% QoQ, mainly due to the expected decline in operating expenses.
Related NewsBOCI Lists Top Picks for HK Stocks in 2H24 (Table)
In addition, Haitong International raised its FY2024 revenue and net profit forecasts for TENCENT by 1.5% and 3% respectively. Meanwhile, Haitong International elevated its target price for TENCENT from $464 to $477, with rating kept at Outperform.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-12 16:25.)
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