---
title: "Citi raises Tencent's target price to 751 yuan, reiterates \"Buy\" rating"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/265833364.md"
description: "Citibank released a report, reiterating its \"Buy\" rating on Tencent and raising the target price to 751 yuan. The report pointed out that Tencent's revenue in the third quarter of 2025 is expected to grow by 15% year-on-year, with gross profit, operating profit, and net profit increasing by 22%, 18%, and 18%, respectively. Despite a 24% decline in capital expenditures, Tencent's investments in AI and infrastructure upgrades are still expected to yield significant returns"
datetime: "2025-11-14T02:26:51.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/265833364.md)
  - [en](https://longbridge.com/en/news/265833364.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/265833364.md)
---

> 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/265833364.md) | [English](https://longbridge.com/en/news/265833364.md)


# Citi raises Tencent's target price to 751 yuan, reiterates "Buy" rating

Citi released a report stating that Tencent (00700.HK) continues its momentum into the second quarter of 2025, with a year-on-year revenue growth of 15% in the third quarter of 2025, while gross profit/operating profit/net profit growth rates are even faster, increasing by 22%, 18%, and 18% respectively, benefiting from high-margin revenue sources such as internally developed games, video accounts, WeChat search, and optimized productivity costs, although partially offset by strategic hiring of AI talent.

The report indicated that due to the inability to procure the required number of chips, capital expenditures in the third quarter of 2025 decreased by 24% year-on-year, but this did not slow Tencent's commitment to upgrading its foundational model architecture and developing AI capabilities within WeChat. The firm believes this will bring significant investment returns in the future.

The firm maintains a constructive view on Tencent, as the company continues to demonstrate robust execution, driving stable and sustainable revenue and profit growth, while actively pursuing AI goals in both enterprise and user application areas. After adjusting forecasts, the target price has been raised from HKD 735 to HKD 751. The "Buy" rating and preferred stock and AI investment target status are reaffirmed

### 相關股票

- [Tencent Holdings Limited (TCTZF.US)](https://longbridge.com/zh-HK/quote/TCTZF.US.md)
- [Tencent (TCEHY.US)](https://longbridge.com/zh-HK/quote/TCEHY.US.md)
- [TENCENT (00700.HK)](https://longbridge.com/zh-HK/quote/00700.HK.md)

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