JPMorgan Reiterates 'Overweight' on Tencent, Raises 2026 Capex Forecast to 200 Billion Yuan

TENCENT-0.30%

According to JPMorgan Chase, the firm reiterated its 'overweight' rating on Tencent Holdings (00700.HK) today with a target price of HK$690. The bank cut its 2026 non-IFRS earnings per share forecast by 5% to 28.47 yuan and raised the 2026 capital expenditure forecast to 200 billion yuan, reflecting heavier AI investment and depreciation from the second half of this year.

JPMorgan projects second-quarter revenue growth of around 9% year-on-year, with value-added services growing 5-6%, games 9-10%, marketing services 18-19%, and fintech roughly 5%, in line with market expectations.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments