0236 GMT - Tencent could further expand its user base by introducing AI solutions to various consumer-facing products, Citi analysts say in a research note. As constraints over graphic processing units gradually ease, following its stepped-up capital expenditure investment, Tencent's cloud revenue could accelerate in 2025, the analysts say. Citi raises Tencent's 2025 revenue and earnings estimates by 3.3% and 7.7%, respectively, reflecting the company's latest results. Citi maintains a buy rating on Tencent and raises its target price to HK$681.00 from HK$648.00, citing its solid execution track record, steady gaming profit, and likely rising revenue from its ad and business services, boosted its AI adoption. Shares are last down 2.4% at HK$527.00. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
March 19, 2025 22:36 ET (02:36 GMT)
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