Tencent Holding Ltd. (TCEHY) Rating Lowered to Hold at Zacks Investment Research
Tencent Holding Ltd. (OTCMKTS:TCEHY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Tencent Holdings Limited is an Internet service portal. Tencent provides value-added Internet, mobile and telecom services and online advertising. Tencent’s leading Internet platforms in China are QQ Instant Messenger, QQ.com, QQ Games, Qzone, 3g.QQ.com, SoSo, PaiPai and Tenpay. It has brought together China’s largest Internet community, to meet the various needs of Internet users including communication, information, entertainment, e-commerce and others. Tencent Holdings Limited is headquartered in Shenzhen, the People’s Republic of China. “
Separately, JPMorgan Chase & Co. reissued an “overweight” rating on shares of Tencent Holding in a report on Thursday, September 1st.
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Tencent Holding (OTCMKTS:TCEHY) opened at 26.90 on Wednesday. Tencent Holding has a 12-month low of $16.36 and a 12-month high of $27.80. The company has a market cap of $252.03 billion, a PE ratio of 49.27 and a beta of 1.25. The stock has a 50 day moving average of $25.84 and a 200-day moving average of $22.55.
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