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Investing.com - Benchmark raised its price target on Tencent Holdings (HK:0700) (OTC:TCEHY) to HK$790 from HK$700 while maintaining a Buy rating following the company’s strong third-quarter performance.
The Hong Kong-based tech giant delivered accelerating revenue growth above mid-teens in Q3 2025, driven by solid performance across key segments, particularly in online games and advertising.
The online games segment outperformed expectations, benefiting from strong domestic growth and international trends, reinforcing Tencent’s expanding position in global gaming.
Advertising also exceeded forecasts, fueled by AI-enhanced user engagement and improved AdTech conversion, with the launch of AIM+, Tencent’s automated ad solution, representing a significant step forward in leveraging AI to drive higher conversion rates.
Benchmark cited Tencent’s disciplined capital expenditure approach amid global chip constraints as strategic rather than a deviation from industry trends, noting the company remains well-positioned as a key beneficiary of AI with its proprietary data and deep integration within the Weixin ecosystem.
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