CCB Intl. Downgrades Tencent Music Entertainment Group (TME) to Hold

Tencent Music Entertainment Group (TME) received a Hold rating from CCB Intl. analyst CCB International on February 18. The company’s shares closed last Monday at $16.03.

Tencent Music Entertainment Group has an analyst consensus of Moderate Buy, with a price target consensus of $18.06, which is a 15.8% upside from current levels. In a report issued on March 18, BOCOM International Holdings Company also upgraded the stock to Hold with a $11.00 price target.

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The company has a one-year high of $17.97 and a one-year low of $9.22. Currently, Tencent Music Entertainment Group has an average volume of 9.02M.

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Tencent Music Entertainment Group engages in the provision of online music entertainment services. It offers one-stop music services and solutions for smart devices, creating a complete music entertainment ecosystem. The company was founded by Jia Xin Peng on June 6, 2012 and is headquartered in Beijing, China.

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