Barclays analyst Jiong Shao raised the firm’s price target on Tencent (TCEHY) to $88 from $66 and keeps an Overweight rating on the shares. The company reported strong Q4 results with accelerating growth “across the board,” the analyst tells investors in a research note. The firm believes Tencent $5B capex in Q4 builds the foundation for strong cloud and artificial intelligence growth in 2025.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TCEHY:
- Tencent Holdings Reports Strong Financial Growth in 2024
- U.S. video game spending fell 6% y/y in February, says Circana
- Assassin’s Creed Shadows Could Save or Destroy Ubisoft
- TCEHY Earnings: Tencent Profits Leap on Gaming and Ads as Investors Wait on AI Returns
- Game On: Analysts see Nintendo Switch 2 priced at $400 or more
Questions or Comments about the article? Write to editor@tipranks.com