Citigroup: Focus on the launch time of Tencent's WeChat AI intelligent body, increase buybacks to highlight confidence, reiterate "Buy" rating
Citi released a research report stating that Tencent Holdings has begun testing AI agents for WeChat, which will first be tested in external user groups and then rolled out in phases. The firm pointed out that if the testing of the WeChat AI agent progresses smoothly and is launched to all users within the next 1 to 2 months, there is potential for the stock price to rise. The firm maintains a "Buy" rating for the company and continues to set a target price of HKD 763. Citi noted that Tencent has increased its share repurchase efforts in the past 10 days since announcing its first-quarter results, repurchasing an average of 1 million to 1.1 million shares per day, or about HKD 500 million daily, with a cumulative repurchase amount reaching HKD 4.5 billion to 5 billion, indicating management's confidence in the fundamental outlook and belief that the stock price is undervalued
According to the Zhitong Finance APP, Citigroup has released a research report stating that Tencent Holdings (00700) has begun testing AI agents for WeChat, which will first be tested in external user groups and then rolled out in phases. The bank pointed out that if the testing of the WeChat AI agent progresses smoothly and is launched to all users within the next 1 to 2 months, it believes there will be potential upside for the stock price. The bank maintains a "Buy" rating for the company and continues to set a target price of HKD 763.
Citigroup noted that Tencent has increased its share repurchase efforts in the past 10 days since announcing its first-quarter results, repurchasing an average of 1 million to 1.1 million shares per day, or about HKD 500 million daily, with a cumulative repurchase amount reaching HKD 4.5 billion to HKD 5 billion, indicating management's confidence in the outlook for fundamentals and believing that the stock price is undervalued
