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<Research>G Sachs Chops TENCENT (00700.HK) TP to $700 as Firm Shifts to New AI Product-driven Investment Phase
Recommend 18 Positive 25 Negative 20 |
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TENCENT (00700.HK)'s AI development presents solid growth prospects for its game and advertising businesses, Goldman Sachs published a research report saying. However, the Company clearly shifted to an investment phase dominated by AI new products, and forecasted a YoY reduction in the scale of buybacks. As a results, the broker lowered its 2026 adjusted net profit growth forecast for the Company from 10% to 7% YoY. Goldman Sachs kept rating at Buy on the Company, but chopped its target price from $752 to $700, reducing the valuation of its game business to a projected PE ratio of 21x (previously 24x). AASTOCKS Financial News Website: www.aastocks.com |
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