China Renaissance cuts target for Tencent Holdings stock to HKD 668
Published on 10/26/2026 at 15:50 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSTarget cut and revenue outlook
- China Renaissance lowered its Tencent target from HKD 780.00 to HKD 668.00 on October 20, 2026.
- Third-quarter revenue is forecast to grow 9.00 percent year over year.
- Tencent Holdings stock costs EUR 43.98 at Lang & Schwarz on October 26, 2026 at 3:38 p.m. CEST, 1.15 percent below the Tradegate close of October 23, 2026.
- Tencent is scheduled to announce third-quarter results on November 18, 2026.
China Renaissance Securities cut its target for Tencent Holdings from HKD 780.00 to HKD 668.00 in a report dated October 20, 2026, as reported by Futu. The revised target is 72.90 percent above the HKD 386.40 Hong Kong price on October 26, 2026. Tencent Holdings stock was trading at EUR 43.98 at Lang & Schwarz on October 26, 2026 at 3:38 p.m. CEST, down 1.15 percent versus the Tradegate close of October 23, 2026 at EUR 44.49.
AI spending reshapes forecasts
The China Renaissance report kept a Buy rating but lowered its sum-of-the-parts target because higher artificial-intelligence investment is expected to weigh on near-term earnings. The report projects third-quarter revenue growth of 9.00 percent year over year and a 3.00 percent decline in non-IFRS operating profit.
That forecast would put the non-IFRS operating margin at 33.60 percent, down from 37.60 percent in the comparable quarter of 2025. The report also lowered its 2026 revenue growth forecast to 8.00 percent and cut its 2026 diluted non-IFRS earnings-per-share estimate by 1.00 percent.
Stock stays below its yearly high
Tencent's Hong Kong shares were last at HKD 386.40 on October 26, 2026 at 4:08 p.m. HKST. The finance-sector quote showed a 52-week range of HKD 378.00 to HKD 664.00, placing the stock 41.87 percent below its high and 2.22 percent above its low. Market capitalization was HKD 3.5 trillion and the price-to-earnings ratio was 12.97.
Valuation and reporting date
Tencent's investor-relations calendar lists the third-quarter results announcement for November 18, 2026. The company also reported that its second-quarter revenue reached CNY 204.8 billion for the period ended June 30, 2026, while net income attributable to common shareholders was CNY 55.8 billion.
The next reporting date matters because the analyst revision is tied to expected AI investment and its effect on margins. Tencent's second-quarter net profit margin was 27.23 percent, calculated from CNY 55.8 billion of net income and CNY 204.8 billion of revenue.
Comparison with peers
Tencent Holdings: down 1.15 percent versus the Tradegate close, price-to-earnings ratio 12.97, market capitalization HKD 3.5 trillion.
Alibaba Group: up 0.15 percent on October 26, 2026, price-to-earnings ratio 22.44, market capitalization HKD 1.9 trillion.
Meituan: up 3.35 percent on October 26, 2026, price-to-earnings ratio minus 10.01, market capitalization HKD 457.0 billion.
Price remains the immediate check
The euro quotation sits below the October 23 Tradegate close while the Hong Kong listing remains only 2.22 percent above its 52-week low. For investors, the November reporting date and the margin effect of AI spending are the next concrete checkpoints.
The further course of trading is shown by the continuously updated real-time quote of Tencent Holdings stock.
Tencent Holdings Ltd. at a glance
- Company: Tencent Holdings Ltd.
- ISIN: KYG875721634
- Ticker: 0700.HK
- Primary exchange: Hong Kong Stock Exchange
- Price Lang & Schwarz as of October 26, 2026, 3:38 p.m. CEST: EUR 43.98
- Change versus Tradegate close: minus 1.15 percent
- Tradegate close October 23, 2026: EUR 44.49
- Market capitalization: HKD 3.5 trillion as of October 26, 2026
- 52-week range: HKD 378.00-664.00 as of October 26, 2026
- Sector / Industry: Communication Services / Internet Content and Information
- Next earnings date: November 18, 2026
Market context: Latest market reports.
