Analysts Set Tencent Music Entertainment Group (NYSE:TME) Price Target at $13.28

Tencent Music Entertainment Group (NYSE:TME) has been given an average recommendation of “Moderate Buy” by the fourteen analysts that are covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $13.28.

A number of analysts have weighed in on TME shares. Sanford C. Bernstein started coverage on Tencent Music Entertainment Group in a research note on Monday, November 4th. They issued an “outperform” rating and a $14.00 target price on the stock. Morgan Stanley downgraded shares of Tencent Music Entertainment Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $15.00 to $13.00 in a research note on Wednesday, September 25th. Finally, Barclays started coverage on shares of Tencent Music Entertainment Group in a research report on Wednesday, November 6th. They issued an “overweight” rating and a $16.00 price objective for the company.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Tencent Music Entertainment Group during the 2nd quarter valued at $37,000. Wilmington Savings Fund Society FSB purchased a new stake in Tencent Music Entertainment Group in the third quarter valued at about $64,000. Avior Wealth Management LLC raised its stake in Tencent Music Entertainment Group by 253.8% in the third quarter. Avior Wealth Management LLC now owns 5,675 shares of the company’s stock valued at $68,000 after buying an additional 4,071 shares during the last quarter. Caprock Group LLC acquired a new stake in Tencent Music Entertainment Group in the third quarter worth about $147,000. Finally, Diversify Advisory Services LLC purchased a new stake in shares of Tencent Music Entertainment Group during the third quarter worth about $166,000. 24.32% of the stock is owned by institutional investors.

Tencent Music Entertainment Group Trading Up 0.8 %

Shares of NYSE TME opened at $10.91 on Tuesday. Tencent Music Entertainment Group has a fifty-two week low of $8.19 and a fifty-two week high of $15.77. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.34 and a current ratio of 2.34. The company has a market cap of $18.72 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 0.91 and a beta of 0.69. The business’s 50 day moving average price is $11.57 and its 200-day moving average price is $12.08.

About Tencent Music Entertainment Group

Tencent Music Entertainment Group operates online music entertainment platforms to provide music streaming, online karaoke, and live streaming services in the People's Republic of China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover music in personalized ways; long-form audio content, including audiobooks, podcasts and talk shows, as well as music-oriented video content comprising music videos, live performances, and short videos; and WeSing, which enables users to sing along from its library of karaoke songs and share their performances in audio or video formats with friends.