Latest news with #price targets
Yahoo
4 days ago
- Business
- Yahoo
Tencent's Earnings Beat Sparks Price Targets Showing 16% Gain
(Bloomberg) — Chinese social media giant Tencent Holdings Ltd.'s ( TCEHY) strong earnings beat this week led more than two dozen analysts to lift their price targets for its stock, suggesting room for double-digit percentage gains over the next 12 months. Tencent's target price consensus has jumped by more than 5% to HK$688 since it reported quarterly results on Wednesday, according to Bloomberg calculations. That is the second biggest post-earnings jump in its price target over the past five years, beaten only by a March shift fueled by optimism around AI start-up DeepSeek. The US-Canadian Road Safety Gap Is Getting Wider Festivals and Parades Are Canceled Amid US Immigration Anxiety To Head Off Severe Storm Surges, Nova Scotia Invests in 'Living Shorelines' Five Years After Black Lives Matter, Brussels' Colonial Statues Remain For Homeless Cyclists, Bikes Bring an Escape From the Streets The new consensus price suggests potential gains of almost 16% over the next 12 months, based on the stock's HK$594.50 price during Friday's trading session. At least 16 brokers are now forecasting the company's shares to rally above its historical high seen in 2021, erasing losses triggered by China's years-long crackdown on the private sector. They are bullish about the company's upcoming release of mobile game next Tuesday, seen as a key driver of its second-half gaming revenue. Tencent reported a 15% jump in revenue to 184.5 billion yuan ($25.7 billion) in the June quarter, beating analysts' projections. That was driven by double-digit growth in most major business segments including advertising, which it attributed to AI-driven enhancements. Americans Are Getting Priced Out of Homeownership at Record Rates What Declining Cardboard Box Sales Tell Us About the US Economy Bessent on Tariffs, Deficits and Embracing Trump's Economic Plan Dubai's Housing Boom Is Stoking Fears of Another Crash Twitter's Ex-CEO Is Moving Past His Elon Musk Drama and Starting an AI Company ©2025 Bloomberg L.P. Sign up for the Yahoo Finance Morning Brief By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
4 days ago
- Business
- Bloomberg
Tencent Shares Set for Big Move Higher as Analysts Lift Targets
Chinese social media giant Tencent Holdings Ltd. 's strong earnings beat this week led more than two dozen analysts to lift their price targets for its stock, suggesting room for double-digit percentage gains over the next 12 months. Tencent's target price consensus has jumped by more than 5% to HK$688 since it reported quarterly results on Wednesday, according to Bloomberg calculations. That is the second biggest post-earnings jump in its price target over the past five years, beaten only by a March shift fueled by optimism around AI start-up DeepSeek.
Yahoo
01-08-2025
- Business
- Yahoo
Are Starbucks CEO Niccol's Moves the 'Shot of Energy' the Coffee Chain Needs?
Key Takeaways Several analysts raised their price targets for Starbucks stock after the company's earnings call Tuesday. CEO Brian Niccol said he isn't just focused on getting 'Back to Starbucks' anymore, and is taking steps to build a "better Starbucks." Niccol said Starbucks plans to test new product lines and invest $500 million in additional labor hours into its U.S.-operated portfolio. Starbucks reported better-than-expected quarterly sales, but its adjusted profit missed Niccol isn't just focused on getting 'Back to Starbucks' anymore. On the company's quarterly earnings call Tuesday, the coffee giant's CEO unveiled a slate of new initiatives, telling analysts, 'we're not just getting 'Back to Starbucks,' we are building a better Starbucks,' according to a transcript provided by AlphaSense. Niccol said Starbucks plans to invest more than $500 million in additional labor hours into its U.S.-operated portfolio. The company is also looking to test new product lines, Niccol said, including coconut water-based tea and coffee beverages, as well as gluten-free and high-protein menu options. 'Team Niccol [is] the shot of energy hoped for,' JPMorgan analysts said after the call, and lifted their price target for Starbucks (SBUX) stock to $105 from $100. Bank of America analysts also raised their target, to $144 from $110, while Morgan Stanley moved to $103 from $95. Shares were about 2% higher in recent trading near $95, and have added roughly 4% in 2025 so far. The company's "Back to Starbucks" turnaround plan was intended to help speed up service and get customers to spend more time in cafes. Its initiatives have included using algorithms to sequence orders, expanding free refills, and having baristas return to writing customers' names on cups. The coffee giant has also seen layoffs. Starbucks on Tuesday reported better-than-expected quarterly sales, but its adjusted profit missed Wall Street's expectations. Oppenheimer analysts, who maintained a neutral rating, said they see a "difficult setup' for earnings to catch up enough to justify the stock's valuation. "While we believe Mr. Niccol's strategies to improve the business will gain momentum, the sales and margin recovery path appears elongated," they said, and suggested they would remain on the sidelines until they see a "better entry point." Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
