Tencent (OTCMKTS:TCEHY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

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. “

TCEHY has been the subject of a number of other research reports. Barclays boosted their price objective on shares of Tencent from $49.00 to $59.00 and gave the company an “overweight” rating in a report on Monday, November 20th. Wells Fargo & Co started coverage on shares of Tencent in a report on Wednesday, September 27th. They issued an “outperform” rating for the company. Finally, Benchmark reissued a “buy” rating on shares of Tencent in a report on Thursday, November 16th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $58.00.

Shares of Tencent (TCEHY) opened at $55.87 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.36 and a current ratio of 1.36. Tencent has a twelve month low of $24.95 and a twelve month high of $56.05.

ILLEGAL ACTIVITY WARNING: “Tencent (TCEHY) Downgraded by Zacks Investment Research to “Hold”” was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another domain, it was copied illegally and republished in violation of international copyright & trademark laws. The correct version of this article can be read at https://www.americanbankingnews.com/2018/01/06/tencent-tcehy-downgraded-by-zacks-investment-research-to-hold.html.

Tencent 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.

Get a free copy of the Zacks research report on Tencent (TCEHY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Tencent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tencent and related companies with MarketBeat.com's FREE daily email newsletter.