Tencent Music Entertainment Group (TME) Now Covered by Macquarie

Stock analysts at Macquarie assumed coverage on shares of Tencent Music Entertainment Group (NYSE:TME) in a research note issued on Tuesday, The Fly reports. The brokerage set an “outperform” rating on the stock.

Other equities research analysts also recently issued reports about the company. Morgan Stanley began coverage on Tencent Music Entertainment Group in a research note on Tuesday, January 15th. They issued a “weight” rating and a $12.20 price objective for the company. Deutsche Bank began coverage on Tencent Music Entertainment Group in a research note on Sunday, January 6th. They issued a “hold” rating and a $15.00 price objective for the company. Goldman Sachs Group initiated coverage on Tencent Music Entertainment Group in a research note on Sunday, January 6th. They issued a “buy” rating for the company. Stifel Nicolaus initiated coverage on Tencent Music Entertainment Group in a research note on Monday, January 7th. They set a “hold” rating and a $14.00 price target for the company. Finally, Bank of America initiated coverage on Tencent Music Entertainment Group in a research note on Monday, January 7th. They set a “buy” rating and a $17.10 price target for the company. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Tencent Music Entertainment Group currently has a consensus rating of “Buy” and a consensus price target of $15.61.

Shares of Tencent Music Entertainment Group stock opened at $15.03 on Tuesday. Tencent Music Entertainment Group has a 1 year low of $11.81 and a 1 year high of $16.21.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James & Associates acquired a new stake in Tencent Music Entertainment Group in the 4th quarter valued at approximately $192,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Tencent Music Entertainment Group in the 4th quarter valued at approximately $3,766,000. Stephens Inc. AR acquired a new stake in Tencent Music Entertainment Group in the 4th quarter valued at approximately $198,000. National Asset Management Inc. acquired a new stake in Tencent Music Entertainment Group in the 4th quarter valued at approximately $331,000. Finally, Dean Capital Investments Management LLC acquired a new stake in Tencent Music Entertainment Group in the 4th quarter valued at approximately $567,000. 0.04% of the stock is currently owned by hedge funds and other institutional investors.

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.

Featured Article: What Are Treasury Bonds?

The Fly

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

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

Leave a Reply