Bank of America: Tencent's performance in the third quarter is stable, maintaining its position as the industry's preferred stock and a "buy" rating.

Bank of America Securities released a report stating that Tencent delivered solid third quarter performance, with revenue increasing 15% year-on-year to 192.9 billion yuan, 2% higher than expected; net profit under non-International Financial Reporting Standards was 70.6 billion yuan, an 18% increase year-on-year, 7% higher than market expectations. The bank is satisfied with Tencent's solid execution, especially in the areas of advertising and gaming. Due to investor focus on the upward 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 earnings conference call. The bank maintains Tencent as the preferred stock in the industry and a "buy" rating with a target price of 780 Hong Kong dollars.