0211 GMT - Tencent could become a dominant AI player in China given its unparalleled breadth and depth of social and user insight, Barclays analysts say in a research note. They note Tencent had a bit of a late start in the AI race, but say it has generally caught up with the rest of China's AI leaders. Tencent's around $5 billion capital expenditure in 4Q should build a foundation for strong cloud and AI growth in 2025, the analysts say. Meanwhile, Tencent's consistent around $20 billion annual shareholder return through dividends and buybacks signals that management and shareholder interests are aligned, the bank says. Barclays raises Tencent ADR target price to US$88.00 from US$66.00. Shares last closed 0.1% higher at US$69.59. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
March 19, 2025 22:11 ET (02:11 GMT)
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