According to CITIC CLSA, Tencent Holdings (0700.HK) Q3 profit is likely to face pressure from accelerated AI investments, including model training and WorkBuddy penetration, the research firm said on Nov 6. The brokerage cut its target price for the tech giant from 740 HKD to 685 HKD while maintaining an "outperform" rating. Q3 revenue is forecast to grow 9.4% year-over-year to 211 billion yuan, supported by solid gaming and marketing businesses plus accelerating cloud growth, though adjusted EBIT is expected to decline 2% to 71.3 billion yuan. CITIC CLSA lowered its 2026 and 2027 adjusted net profit forecasts by 3% and 7% respectively, but remains optimistic on WorkBuddy and Weixin Mini Programs as potential new growth drivers.

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