Brokerages Set Tencent Music Entertainment Group – (TME) PT at $16.28

Tencent Music Entertainment Group – (NYSE:TME) has been given an average rating of “Buy” by the six analysts that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $16.28.

A number of research firms have commented on TME. KeyCorp began coverage on Tencent Music Entertainment Group in a research report on Monday. They issued an “overweight” rating and a $19.00 price target on the stock. Goldman Sachs Group began coverage on Tencent Music Entertainment Group in a research report on Sunday. They issued a “buy” rating on the stock. Deutsche Bank started coverage on Tencent Music Entertainment Group in a research report on Sunday. They issued a “hold” rating and a $15.00 price target on the stock. Morgan Stanley started coverage on Tencent Music Entertainment Group in a report on Monday. They issued an “equal weight” rating on the stock. Finally, Stifel Nicolaus started coverage on Tencent Music Entertainment Group in a research report on Monday. They issued a “hold” rating and a $14.00 target price for the company.

Shares of TME opened at $13.02 on Monday. Tencent Music Entertainment Group has a 12-month low of $11.81 and a 12-month high of $14.75.

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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Analyst Recommendations for Tencent Music Entertainment Group (NYSE:TME)

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