Citi: Maintains "Buy" rating on TENCENT (00700) and HK$755 target price; AI foundation model development capabilities continue to improve
Citi believes that the official release of Tencent's Hy4 marks an important step in narrowing the gap with frontier models and helps strengthen its enterprise AI positioning and competitive advantage in the office productivity space.
Citi issued a research report reiterating a "Buy" rating on TENCENT (00700) and a target price of HK$755. The bank believes that the official release of Tencent's Hy4 marks an important step in narrowing the gap with frontier models and better positions Tencent to evolve into an agentic AI platform capable of handling complex enterprise workflows. Citi noted that Tencent is steadily establishing its position as a leading foundation model developer while strengthening its enterprise AI positioning and competitive advantages in the office productivity space.
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