Several other equities analysts have also issued reports on the company. New Street Research began coverage on Tencent Music Entertainment Group in a research report on Friday, October 18th. They issued a buy rating and a $16.00 price objective for the company. Zacks Investment Research lowered Tencent Music Entertainment Group from a hold rating to a sell rating in a research report on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. The stock has an average rating of Buy and an average target price of $16.98.
Shares of TME opened at $12.69 on Friday. The stock has a 50 day simple moving average of $13.17 and a 200 day simple moving average of $13.16. Tencent Music Entertainment Group has a 52-week low of $11.27 and a 52-week high of $19.97. The firm has a market capitalization of $21.47 billion, a PE ratio of 70.50, a P/E/G ratio of 0.92 and a beta of 2.15.
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.
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