Morgan Stanley: Tencent Holdings' first-quarter performance is stable, rating "Overweight"
JP Morgan released a research report stating that Tencent Holdings' first-quarter performance is robust, with revenue from games and online advertising accelerating to over 20%, demonstrating the group's unique advantages that enable sustainable profit growth. Furthermore, although increased capital expenditure in the second half of the year will impact profits, the group's first-quarter earnings per share growth rate still exceeds revenue growth, and it is expected that its stock price will respond positively in the short term. The bank set a target price of HKD 600 for Tencent, with a rating of "Overweight."
According to Zhitong Finance APP, JP Morgan released a research report stating that Tencent Holdings Limited (00700) had a solid performance in the first quarter, with revenue from games and online advertising accelerating to over 20%, demonstrating the group's unique advantages that enable sustainable profit growth. In addition, although increased capital expenditure in the second half of the year will impact profits, the group's earnings per share growth rate in the first quarter still exceeded revenue growth, and it is expected that its stock price will have a positive reaction in the short term. The bank set a target price of HKD 600 for Tencent, with a rating of "Overweight."
