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Citi Says Tencent's 2026 Global Digital Ecosystem Conference Could Act as Catalyst, Keeps Buy Rating
Trading Random10-27 10:19
The brokerage believes Tencent could announce the official launch of Hy4.0, share operational milestones for WorkBuddy, and provide updates on Tencent Cloud infrastructure upgrades as well as its global cloud expansion strategy.
The broker noted that while China's internet sector remains weak at present, the recent share price weakness offers a better buying opportunity for long-term investors.
The brokerage maintained a Buy rating on Tencent and stayed constructive on the positioning of AI agents, reiterating a target price of HKD755, which implies 95.4% upside from yesterday's (Oct 26) closing price.
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