Professional
Added to YB: 2024-10-22
Pitch date: 2024-10-18
0700.HK [bullish]
Tencent Holdings Limited
+44.3%
current return
Author Info
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Company Info
Tencent Holdings Limited, an investment holding company, provides value-added services, marketing services, fintech, and business services in Mainland China and internationally.
Market Cap
HKD 5.1T
Pitch Price
HKD 426.87
Price Target
525.00 (-15%)
Dividend
0.73%
EV/EBITDA
17.71
P/E
23.99
EV/Sales
7.05
Sector
Interactive Media and Services
Category
growth
Tencent (700 HK) – Upbeat on games business and earnings growth outlook
0700.HK: BUY, TP HK$525 (27% upside). Expect sustainable earnings growth from high-margin Video Account & Mini Games, game revenue acceleration in 2H24 (DnF Mobile), doubled share repurchase (>HK$100bn). 14x FY25E PE attractive. Catalysts: VA monetization, game growth, shareholder returns. SOTP valuation.
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