Tencent Holding Ltd. (TCEHY) Lifted to Buy at Zacks Investment Research
Tencent Holding Ltd. (OTCMKTS:TCEHY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The brokerage presently has a $31.00 price objective on the stock. Zacks Investment Research’s target price would suggest a potential upside of 13.01% from the company’s previous close.
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. reaffirmed an “overweight” rating on shares of Tencent Holding in a research report on Thursday, September 1st.
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Tencent Holding (OTCMKTS:TCEHY) opened at 27.43 on Thursday. Tencent Holding has a 1-year low of $16.36 and a 1-year high of $27.80. The firm’s 50-day moving average is $25.94 and its 200 day moving average is $22.58. The firm has a market cap of $256.99 billion, a PE ratio of 50.24 and a beta of 1.25.
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