---
title: "Tencent rose 3.5% to hit a new high in over two and a half years, Morgan Stanley raised its target price to HKD 480"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/215254251.md"
description: "Tencent continued to rise in the Hong Kong stock market on Thursday, reaching a new high since February 2022. Prior to this, Morgan Stanley raised the target price of the stock to HKD 480, stating that its valuation is still not high and they are optimistic about the risk-return. As of midday, Tencent Holdings rose by 3.5% to HKD 419.6; the Hang Seng Tech Index, which includes this stock, rose by 4.2%"
datetime: "2024-09-26T04:18:31.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/215254251.md)
  - [en](https://longbridge.com/en/news/215254251.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/215254251.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/215254251.md) | [繁體中文](https://longbridge.com/zh-HK/news/215254251.md)


# Tencent rose 3.5% to hit a new high in over two and a half years, Morgan Stanley raised its target price to HKD 480

Tencent continued to rise in the Hong Kong stock market on Thursday, reaching a new high since February 2022. Prior to this, Morgan Stanley raised the target price of the stock to HKD 480, stating that its valuation is still not high and is optimistic about the risk-return. As of midday, Tencent Holdings rose by 3.5% to HKD 419.6; the Hang Seng Tech Index, which includes this stock, rose by 4.2%

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