Bank of America Securities: Maintains a "buy" rating on Tencent Holdings (00700.HK) with a target price of 780 Hong Kong dollars.

According to the Zhtng Financial APP, Bank of America Securities released a research report stating that Tencent Holdings (00700.HK) delivered a solid performance after the market closed yesterday (13th). Revenue increased by 15% year-on-year to 192.9 billion yuan, 2% higher than expected. Non-IFRS net profit was 70.6 billion yuan, an 18% year-on-year increase, 7% higher than market expectations. The bank is satisfied with Tencent's solid execution, especially in advertising and gaming businesses. Due to investor interest in the rising trend of structural artificial intelligence investments and quarterly spending fluctuations, the bank expects to gain more details about the 2026 capital expenditure plan from the financial conference call. Maintaining industry-leading stock and "buy" ratings, with a target price of 780 Hong Kong dollars.