强劲财报后，腾讯共识目标价大幅上调，投行乐观程度仅次于DeepSeek上线后

Core Viewpoint - Analysts are optimistic about Tencent, raising the consensus target price to HKD 688, indicating a potential upside of nearly 16% [1][2] Group 1: Analyst Upgrades - Over twenty analysts have raised Tencent's target price since the earnings report, with a consensus increase of over 5% from HKD 594.50 to HKD 688 [2] - Goldman Sachs has increased its target price from HKD 658 to HKD 701, while also raising revenue and earnings per share forecasts for 2025 to 2027 by 1-6% [3] Group 2: Financial Performance - Tencent's Q2 revenue grew by 15% year-on-year to RMB 184.5 billion, with major business segments like advertising showing double-digit growth [5] - The strong performance is attributed to AI-driven efficiency improvements [5] Group 3: Growth Drivers - AI is identified as a key growth engine, enhancing the efficiency of advertising and gaming businesses, leading to significant revenue increases [5] - The advertising business, particularly through platforms like video accounts, has substantial growth potential due to its low current commercialization level [6] - Tencent's gaming business outlook is stable, supported by new major game releases and a "platformization" strategy, with upcoming mobile game "Valorant Mobile" expected to drive growth [7]