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2025-07-29 10:28:36
[Citi: Tencent's third-quarter gaming revenue should remain robust, the company's target price is raised and the buy rating is maintained] Citi reported that Tencent's gaming business revenue should continue to remain robust in the third quarter. Given that Tencent has not announced any blockbuster game releases in the third quarter, the company may focus on promoting existing games in the third quarter to drive growth. Citi pointed out that Tencent also has a strong follow-up lineup of 94 mobile games, more than half of which have been approved by Chinese regulators. Citi raised its adjusted net profit expectations for Tencent in 2025 and 2026 by 0.3% and 0.2%, respectively, but lowered its forecast for 2027 by 0.2%. Previously, Citi adjusted its revenue forecasts for advertising and cloud businesses, but maintained its estimates for games and value-added services unchanged. Citi raised Tencent's target price from HK$695.00 to HK$699.00, while maintaining a buy rating
