UBS released a research report forecasting that TENCENT (00700.HK) +12.200 (+3.170%) Short selling $2.10B; Ratio 19.325% 's 2Q24 revenue will rise 6% YoY, while adjusted net profit will grow 34% YoY to RMB50.1 billion, mainly benefiting from the growth of its high-margin businesses and strong earnings performance of its associates.
UBS kept rating at Buy on TENCENT, which remains one of its top picks. The broker raised its target price to $483 from $480, and increased its 2024-2026 adjusted EPS forecasts by 1-2% due to a better-than-expected response to Dungeon & Fighter: Origins.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-12 16:25.)
