tiprankstipranks
Tencent Music price target lowered to $14.50 from $15 at Citi
The Fly

Tencent Music price target lowered to $14.50 from $15 at Citi

Citi analyst Alicia Yap lowered the firm’s price target on Tencent Music (TME) to $14.50 from $15 and keeps a Buy rating on the shares. The Q3 report came in “relatively in-line with expectations overall,” but net adds of 2M came in at the high-end of guidance and slightly better than the firm’s assumption, the analyst tells investors in a Q3 recap note. The firm views share price weakness post the results as “an enhanced buying opportunity,” the analyst added.

Don't Miss our Black Friday Offers:

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App