Haithong International Maintains "Outperform" Rating on Tencent Holdings with HK$688 Target Price

Deep News06-21 14:51

Haithong International has released a research report stating that the market may be underestimating TENCENT's strategic positioning in the AI era, particularly in areas such as Agent harness and the use of Agent queries to accelerate the iteration of its Hunyuan model. The firm currently maintains its "Outperform" rating on the stock with an unchanged target price of HK$688.

The report points out that Tencent's Workbuddy has become the most widely used programming product in China. According to market data, WorkBuddy's monthly visits reached 8.85 million in March, more than double that of its closest competitor. Measured by daily active users, it is already one of the most popular Agent tools domestically. Furthermore, Tencent's recent investment in DeepSeek is believed to further strengthen the firm's confidence in Tencent's competitive strength within the AI field.

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