In a report released today, John Egbert from Stifel Nicolaus maintained a Hold rating on Tencent Music Entertainment Group (TME), with a price target of $14.00. The company’s shares closed last Monday at $11.05, close to its 52-week low of $10.50.
According to TipRanks.com, Egbert is a 4-star analyst with an average return of 4.2% and a 36.1% success rate. Egbert covers the Technology sector, focusing on stocks such as Spotify Technology SA, Criteo SA, and Facebook.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Tencent Music Entertainment Group with a $15.42 average price target, representing a 44.0% upside. In a report released yesterday, Oppenheimer also maintained a Hold rating on the stock.
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Tencent Music Entertainment Group’s market cap is currently $18.07B and has a P/E ratio of 61.84. The company has a Price to Book ratio of 3.11.
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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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