Zacks Investment Research lowered shares of Tencent (OTCMKTS:TCEHY) from a buy rating to a hold rating in a research report released on Saturday.
According to Zacks, “Tencent Holdings Limited is an Internet service portal. Tencent provides value-added Internet, mobile and telecom services and online advertising. Tencent’s leading Internet platforms in China are QQ Instant Messenger, QQ.com, QQ Games, Qzone, 3g.QQ.com, SoSo, PaiPai and Tenpay. It has brought together China’s largest Internet community, to meet the various needs of Internet users including communication, information, entertainment, e-commerce and others. Tencent Holdings Limited is headquartered in Shenzhen, the People’s Republic of China. “
Other equities analysts also recently issued reports about the stock. Benchmark reaffirmed a buy rating on shares of Tencent in a report on Thursday, November 16th. Wells Fargo & Co assumed coverage on shares of Tencent in a report on Wednesday, September 27th. They set an outperform rating for the company. Finally, Barclays raised their price objective on shares of Tencent from $49.00 to $59.00 and gave the stock an overweight rating in a report on Monday, November 20th.
Tencent (OTCMKTS:TCEHY) traded up $1.56 during trading hours on Friday, hitting $56.92. 2,107,494 shares of the stock were exchanged, compared to its average volume of 3,170,000. Tencent has a one year low of $25.35 and a one year high of $57.21. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.45.
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Tencent Holdings Limited is an investment holding company principally involved in the provision of value-added services (VAS) and online advertising services. The Company operates through three main segments. The VAS segment is mainly involved in provision of online/mobile games, community value-added services and applications across various Internet and mobile platforms.
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