Why Tencent Music Entertainment Stock Withered on Wednesday
The fallout from a weaker-than-expected earnings report published by Tencent Music Entertainment (NYSE: TME) continued on Wednesday. For the second day in a row, the China-based company was hit with analyst price target cuts, as well as two recommendation downgrades. This pushed the stock down by over 9%.
One of the downgrades came from Benchmark's Fawne Jiang, who lowered her rating on Tencent Music to hold from the previous buy. No price target was provided.
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Source Fool.com
Tencent Holdings Ltd. Stock
€50.36
-3.980%
Currently there is a rather positive sentiment for Tencent Holdings Ltd. with 3 Buy predictions and 1 Sell predictions.
As a result the target price of 54 € shows a slightly positive potential of 7.23% compared to the current price of 50.36 € for Tencent Holdings Ltd..
