Shares of Tencent Music Entertainment Group – (NYSE:TME) have been given an average recommendation of “Buy” by the six ratings firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $16.28.

Several research firms recently issued reports on TME. Bank of America began coverage on shares of Tencent Music Entertainment Group in a report on Monday, January 7th. They issued a “buy” rating and a $17.10 target price on the stock. Goldman Sachs Group started coverage on shares of Tencent Music Entertainment Group in a research note on Sunday, January 6th. They issued a “buy” rating for the company. Morgan Stanley started coverage on shares of Tencent Music Entertainment Group in a research note on Monday, January 7th. They issued an “equal weight” rating for the company. Deutsche Bank started coverage on shares of Tencent Music Entertainment Group in a research note on Sunday, January 6th. They issued a “hold” rating and a $15.00 price target for the company. Finally, Stifel Nicolaus started coverage on shares of Tencent Music Entertainment Group in a research note on Monday, January 7th. They issued a “hold” rating and a $14.00 price target for the company.

Tencent Music Entertainment Group stock traded down $0.14 during mid-day trading on Monday, reaching $12.89. The company had a trading volume of 2,111,197 shares, compared to its average volume of 5,259,150. Tencent Music Entertainment Group has a fifty-two week low of $11.81 and a fifty-two week high of $14.75.

About Tencent Music Entertainment Group

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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