Zacks Investment Research Downgrades Tencent Holding Ltd. (TCEHY) to Hold
Tencent Holding Ltd. (OTCMKTS:TCEHY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.
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. “
A number of other analysts also recently commented on TCEHY. Wells Fargo & Company began coverage on Tencent Holding in a research note on Wednesday, September 27th. They issued an “outperform” rating on the stock. Barclays PLC boosted their price objective on Tencent Holding from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Friday, August 18th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $49.50.
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Tencent Holding Company Profile
Tencent Holdings Limited is an investment holding company principally involved in the provision of value-added services (VAS) and online advertising services. The Company operates through three main segments. The VAS segment is mainly involved in provision of online/mobile games, community value-added services and applications across various Internet and mobile platforms.
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