Brokers' ratings and target prices for Tencent (0700.HK) after quarterly earnings report on May 14, 2024
Tencent (HKSE:0700) reported its quarterly earnings (quarter ending March 2024) on Tuesday, May 14th. It was a good set of results that beat analysts' expectations.
The following table is a summary of the brokers' target prices and ratings for Tencent after the results announcement:
| Broker | Rating | Target Price HK$ |
| Citi | Buy | 515 |
| CMBI | Buy | 480 |
| CLSA | Buy | 480 |
| UBS | Buy | 480 |
| JP Morgan | Overweight | 480 |
| Jefferies | Buy | 475 |
| CITIC Securities | Buy | 474 |
| Macquarie | Outperform | 473 |
| CICC | Outperform | 468 |
| Nomura | Buy | 467 |
| Goldman Sachs | Buy | 466 |
| Daiwa | Buy | 460 |
| Huatai Securities | Buy | 451.75 |
| Morgan Stanley | Overweight | 450 |
| HSBC Global Research | Buy | 450 |
| Bank of America Securities | Buy | 480 |
| Haitong International | Outperform | 464 |
| CMS | Overweight | 470 |
| UOB KH | Buy | 454 |
| CCBI | Outperform | 460 |
Source: AAStocks
It is interesting to note that the average target price from the 20 brokers is 469.89 HK$. This compares favorably with the average target price of 422 HK$ prior to the results announcement.