Macquarie analyst Ellie Jiang maintained a Buy rating on Tencent Holdings today and set a price target of HK$780.00. The company’s shares closed yesterday at $81.50.
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Jiang covers the Consumer Cyclical sector, focusing on stocks such as JD.com, Inc. Class A, Alibaba Group Holding Ltd., and Tongcheng Travel Holdings Limited. According to TipRanks, Jiang has an average return of 19.6% and a 67.32% success rate on recommended stocks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Tencent Holdings with a $93.18 average price target, which is a 14.33% upside from current levels. In a report released today, Bernstein also maintained a Buy rating on the stock with a HK$800.00 price target.
Based on Tencent Holdings ‘s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $184.5 billion and a net profit of $55.63 billion. In comparison, last year the company earned a revenue of $161.12 billion and had a net profit of $47.63 billion
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