JPMorgan: Tencent's Q1 performance is stable with a target price of HKD 600
On May 15, Jin10 reported that JPMorgan published a research report indicating that Tencent (00700.HK) had a stable performance in the first quarter, with revenue from games and online advertising accelerating to over 20%, demonstrating the group's unique advantages that allow it to achieve sustainable profit rise. Furthermore, although increased capital expenditure in the second half of the year will impact profits, the group's first quarter earnings per share growth rate still exceeded revenue growth, and its stock price is expected to respond positively in the short term. The bank set a target price of HKD 600 for Tencent, with a rating of "buy."