Brokers' ratings and target prices for Tencent (0700.HK) prior to quarterly results announcement
Tencent (HKSE:0700) is due to report its quarterly earnings (quarter ending March 2024) on Tuesday, May 14th. The stock has had a good run-up over the past 30 days, and investor optimism has boosted it to a closing price of 378.20 HK$ on May 13th.
The following table is a summary of brokers' target prices and ratings for Tencent (prior to the results announcement):
| Broker | Rating | Target Price (HK$) |
| DBS | Buy | 524 |
| GF Securities | Buy | 485.88 |
| TF Securitites | Buy | 476 |
| Citi | Buy | 459 |
| Jefferies | Buy | 453 |
| First Shanghai | Buy | 450 |
| CMBI | Buy | 445 |
| Shenwan Hongyuan | Buy | 443 |
| CLSA | Buy | 440 |
| UBS | Buy | 438 |
| Haitong International | Outperform | 430 |
| Everbright Securities | Buy | 430 |
| CICC | Outperform | 418 |
| Huatai Securities | Buy | 415.11 |
| BofA Securities | Buy | 410 |
| BOCI | Buy | 407 |
| Guosheng Securities | Buy | 405 |
| Guohai Securities | Buy | 401 |
| Morgan Stanley | Overweight | 400 |
| Nomura | Buy | 400 |
| CITIC Securities | Buy | 398 |
| BOCOMI | Buy | 395 |
| CMSI | Overweight | 393 |
| China Securities | Buy | 390 |
| HSBC Global Research | Buy | 385 |
| UOB Kay Hian | Buy | 382 |
| Orient Securities | Buy | 375.04 |
| Daiwa | Buy | 370 |
Source: AAStocks
It is interesting to note that the average target price from the 28 brokers is 422.07 HK$. I am curious to see how this number changes after the results announcement.