Tencent Music Entertainment Group – (TME) Receives $16.28 Consensus Target Price from Analysts

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Shares of Tencent Music Entertainment Group – (NYSE:TME) have been assigned an average rating of “Buy” from the six ratings firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $16.28.

A number of research firms recently commented on TME. KeyCorp began coverage on shares of Tencent Music Entertainment Group in a research report on Monday, January 7th. They issued an “overweight” rating and a $19.00 price objective for the company. Goldman Sachs Group assumed coverage on Tencent Music Entertainment Group in a report on Sunday, January 6th. They set a “buy” rating for the company. Deutsche Bank assumed coverage on Tencent Music Entertainment Group in a report on Sunday, January 6th. They set a “hold” rating and a $15.00 target price for the company. Morgan Stanley assumed coverage on Tencent Music Entertainment Group in a report on Monday, January 7th. They set an “equal weight” rating for the company. Finally, Stifel Nicolaus assumed coverage on Tencent Music Entertainment Group in a report on Monday, January 7th. They set a “hold” rating and a $14.00 target price for the company.

Shares of TME traded down $0.14 during trading hours on Monday, reaching $12.89. The stock had a trading volume of 2,111,197 shares, compared to its average volume of 5,259,150. Tencent Music Entertainment Group has a 52 week low of $11.81 and a 52 week high of $14.75.

Tencent Music Entertainment Group Company Profile

Tencent Music Entertainment Group operates an online music entertainment platform that provides online music and music-centric social entertainment services in China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover and listen to music in personalized ways; and WeSing, which enables users to have fun by singing and interacting with friends, sharing their singing performances with friends, and discovering songs that others have sung.

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Analyst Recommendations for Tencent Music Entertainment Group (NYSE:TME)

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