Zacks Investment Research Downgrades Tencent Holding Ltd. (TCEHY) to Hold
Tencent Holding Ltd. (OTCMKTS:TCEHY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
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. “
Separately, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Tencent Holding in a research report on Thursday, September 1st.
Shares of Tencent Holding (OTCMKTS:TCEHY) opened at 27.85 on Wednesday. The company has a market capitalization of $260.93 billion, a P/E ratio of 51.01 and a beta of 1.25. Tencent Holding has a 12-month low of $16.36 and a 12-month high of $27.87. The company has a 50 day moving average price of $26.07 and a 200 day moving average price of $22.62.
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