In a report released today, Vincent Yu from Needham assigned a Buy rating to Tencent Music Entertainment Group (TME), with a price target of $25.00. The company’s shares closed last Monday at $17.83.
According to TipRanks.com, Yu is a 5-star analyst with an average return of 31.2% and a 46.3% success rate. Yu covers the Technology sector, focusing on stocks such as China Online Education Group, So-Young International, and 36Kr Holdings Inc.
Tencent Music Entertainment Group has an analyst consensus of Moderate Buy, with a price target consensus of $30.65, representing a 65.9% upside. In a report issued on April 16, Morgan Stanley also maintained a Buy rating on the stock with a $30.00 price target.
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Tencent Music Entertainment Group’s market cap is currently $30.18B and has a P/E ratio of 49.40. The company has a Price to Book ratio of 6.28.
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Incorporated in 2012, China-based Tencent Music Entertainment Group is an online music entertainment platform that provides music streaming, online karaoke, and live streaming services services. The company is a subsidiary of Tencent Holdings Limited.
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