CICC: Maintains Tencent Holdings (00700.HK) "Outperform" rating, target price HK$666, bullish on WorkBuddy integrating the office ecosystem.

Zhitong Finance APP has learned that CICC issued a research report stating that it maintains Tencent Holdings (00700.HK) with an "Outperform Industry" rating and a target price of HK$666, corresponding to 2026 and 2027 Non-IFRS P/E ratios of 20x and 19x, respectively, implying 76% upside from the current share price. The bank maintains its 2026 and 2027 Non-IFRS earnings forecasts for the company unchanged. On October 29, the 2026 Tencent Global Digital Ecosystem Summit opened, where the company launched Buddy One, an integrated office suite with WorkBuddy as its workbench, simultaneously launched Tencent Drive as a unified storage product, and announced that Hunyuan Hy4 and Hy4 Flash will be released soon.