---
title: "Goldman Sachs: Slightly raises Tencent's target price to HKD 595, maintains \"Buy\" rating"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/240276623.md"
description: "Goldman Sachs released a research report stating that due to the robust performance of game and advertising revenue in the first fiscal quarter, both revenue and profit exceeded expectations. They raised the target price for Tencent from HKD 590, slightly increasing it by 0.8% to HKD 595, maintaining a \"Buy\" investment rating. Goldman Sachs pointed out that Tencent's revenue grew strongly in the first fiscal quarter (up 13% year-on-year) and earnings per share (EPS) (up 25% year-on-year), mainly due to its two major high-quality revenue sources (games and marketing services), both of which achieved or exceeded a growth rate of 20%. The gross profit margin also reached its highest level since the second fiscal quarter of 2016. The firm raised its revenue and EPS forecasts for Tencent for the 2025/2026 fiscal year by 1%, expanding the long-term growth potential of marketing services. Advertising, e-commerce, gaming, and cloud computing will benefit from Tencent's ongoing execution and investment in artificial intelligence (AI)"
datetime: "2025-05-15T03:01:03.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/240276623.md)
  - [en](https://longbridge.com/en/news/240276623.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/240276623.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/240276623.md) | [繁體中文](https://longbridge.com/zh-HK/news/240276623.md)


# Goldman Sachs: Slightly raises Tencent's target price to HKD 595, maintains "Buy" rating

According to the Zhitong Finance APP, Goldman Sachs released a research report stating that due to robust performance in gaming and advertising revenue in the first fiscal quarter, both revenue and profit exceeded expectations. They slightly raised the target price for Tencent Holdings (00700) by 0.8% from HKD 590 to HKD 595, maintaining a "Buy" investment rating.

Goldman Sachs pointed out that Tencent's revenue grew strongly in the first fiscal quarter (up 13% year-on-year) and earnings per share (EPS) increased by 25% year-on-year, mainly due to its two major high-quality revenue sources (gaming and marketing services), both of which achieved year-on-year growth rates of 20% or more. The gross profit margin also reached its highest level since the second fiscal quarter of 2016. The firm raised its revenue and EPS forecasts for Tencent for the fiscal years 2025/2026 by 1%, expanding the long-term growth potential of marketing services. Advertising, e-commerce, gaming, and cloud computing will benefit from Tencent's ongoing execution and investment in artificial intelligence (AI)

### Related Stocks

- [Tencent Holdings Limited (TCEHY.US)](https://longbridge.com/en/quote/TCEHY.US.md)
- [Tencent Holdings Limited (TCTZF.US)](https://longbridge.com/en/quote/TCTZF.US.md)
- [TENCENT (00700.HK)](https://longbridge.com/en/quote/00700.HK.md)
- [The Goldman Sachs Group, Inc. (GS.US)](https://longbridge.com/en/quote/GS.US.md)

## Related News & Research

- [$100 Invested In ProShares Ultra Silver 10 Years Ago Would Be Worth This Much Today](https://longbridge.com/en/news/281548227.md)
- [Iridium Communications Stock (IRDM) Moonshots 12% on SpaceX IPO Filing and Amazon Takeover Rumors](https://longbridge.com/en/news/281548482.md)
- [Micron Sell-off Is a "Buying Opportunity" Says Mizuho](https://longbridge.com/en/news/281560003.md)
- [Every Major Hyperscaler Is Moving To Arm — Here's Why It Matters](https://longbridge.com/en/news/281502285.md)
- [What's Going On With Bloom Energy Stock Thursday?](https://longbridge.com/en/news/281521657.md)