In a report released today, Vincent Yu from Needham assigned a Buy rating to Tencent Music Entertainment Group (TME), with a price target of $17.00. The company’s shares closed last Wednesday at $15.21.
According to TipRanks.com, Yu is a 1-star analyst with an average return of -2.9% and a 41.5% success rate. Yu covers the Technology sector, focusing on stocks such as China Online Education Group, So-Young International, and Ehang Holdings Ltd.
Currently, the analyst consensus on Tencent Music Entertainment Group is a Strong Buy with an average price target of $18.16, representing a 19.9% upside. In a report released today, Oppenheimer also maintained a Buy rating on the stock with a $20.00 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 8.75M.
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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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