In the report, Citibank analyst Alicia Yap and others raised Tencent's target price to HK$765 and reiterated the purchase rating because Tencent's artificial intelligence program showed obvious results, while the core business remained resilient. Citi raised Tencent's capital expenditure assumptions for this year and next to 2007 billion yuan and 235 billion yuan, respectively.

In the report, Citibank analyst Alicia Yap and others raised Tencent's target price to HK$765 and reiterated the purchase rating because Tencent's artificial intelligence program showed obvious results, while the core business remained resilient. Citi raised Tencent's capital expenditure assumptions for this year and next to 2007 billion yuan and 235 billion yuan, respectively.