＜Research＞Haitong Int'l Elevates TENCENT (00700.HK) TP to $477, Raises 2024 Rev./ NP Forecasts

　　Haitong International issued a research report basically maintaining TENCENT (00700.HK) -5.400 (-1.360%) Short selling $2.10B; Ratio 19.325% 's 2Q24 revenue forecast at RMB161 billion, up 8% YoY and 1% QoQ.

　　Non-IFRS net profit is expected to hike by 30% YoY and drop 3% QoQ, mainly due to the expected decline in operating expenses.

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　　In addition, Haitong International raised its FY2024 revenue and net profit forecasts for TENCENT by 1.5% and 3% respectively. Meanwhile, Haitong International elevated its target price for TENCENT from $464 to $477, with rating kept at Outperform.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-12 16:25.)

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