KeyCorp initiated coverage on shares of Tencent Music Entertainment Group (NYSE:TME) in a research report sent to investors on Monday, Marketbeat.com reports. The brokerage issued an overweight rating and a $19.00 price target on the stock. KeyCorp also issued estimates for Tencent Music Entertainment Group’s Q4 2018 earnings at $0.06 EPS, FY2018 earnings at $0.32 EPS, Q1 2019 earnings at $0.07 EPS, Q2 2019 earnings at $0.07 EPS, Q3 2019 earnings at $0.09 EPS, Q4 2019 earnings at $0.09 EPS, FY2019 earnings at $0.33 EPS and FY2020 earnings at $0.44 EPS.
Other research analysts have also recently issued research reports about the stock. Goldman Sachs Group started coverage on shares of Tencent Music Entertainment Group in a research report on Sunday, January 6th. They issued a buy rating on the stock. Stifel Nicolaus started coverage on shares of Tencent Music Entertainment Group in a research report on Monday. They issued a hold rating and a $14.00 target price on the stock. Finally, Deutsche Bank initiated coverage on shares of Tencent Music Entertainment Group in a research report on Sunday, January 6th. They issued a hold rating and a $15.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $16.28.
NYSE TME opened at $13.03 on Monday. Tencent Music Entertainment Group has a 12 month low of $11.81 and a 12 month 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.
Further Reading: Quick Ratio
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