CICC: maintains Tencent Holdings (00700) "outperform" rating with a target price of 666 Hong Kong dollars.

Wisdom Financial APP learned that Zhongjin released a research report stating that on June 5, Tencent Holdings (00700) held the Tencent Cloud AI Industry Application Conference in 2026, launching the "Efficiency Intelligent Body Tools Set" for the first time. The market is paying attention to the in-depth dialogue between Tang Daosheng and Yao Shunyu. The bank maintains its revenue and Non-IFRS profit forecast for 2026 and 2027. Maintain the "outperform industry" rating and target price of 666 Hong Kong dollars, corresponding to 20x 26e Non-IFRS P/E, with a 47% upside potential from the current stock price. The current trading is at 13x/11x 26e/27e Non-IFRS P/E.