Benchmark Maintains Buy on Tencent Music Enter Gr, Lowers Price Target to $15
Written by Emily J. Thompson, Senior Investment Analyst
0mins
Source: Newsfilter
- Analyst Recommendation: Benchmark analyst Fawne Jiang maintains a "Buy" rating for Tencent Music Entertainment Group.
- Price Target Adjustment: The price target has been lowered from $19 to $15.
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Analyst Views on TME
Wall Street analysts forecast TME stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for TME is 26.13 USD with a low forecast of 21.00 USD and a high forecast of 29.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
8 Analyst Rating
6 Buy
2 Hold
0 Sell
Strong Buy
Current: 17.230
Low
21.00
Averages
26.13
High
29.00
Current: 17.230
Low
21.00
Averages
26.13
High
29.00
About TME
Tencent Music Entertainment Group is a holding company mainly engaged in the provision and operation of online music entertainment platform. The Company is mainly engaged in the provision of online music services, social entertainment services and other services. The Company operates four major product brands, QQ Music, Kugou Music, Kuwo Music and WeSing, through which the Company provides online music and social entertainment services to address the music entertainment needs of audience in China. The Company also offers Lazy Audio, the dedicated long-form audio app as a complement to the flagship music-centric product portfolio.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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