CICC Sticks to Their Buy Rating for Tencent Music Entertainment Group Class A (1698)
In a report released today, from CICC maintained a Buy rating on Tencent Music Entertainment Group Class A, with a price target of HK$100.00.
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Currently, the analyst consensus on Tencent Music Entertainment Group Class A is a Strong Buy with an average price target of HK$111.90.
Based on Tencent Music Entertainment Group Class A’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of HK$8.44 billion and a net profit of HK$2.41 billion. In comparison, last year the company earned a revenue of HK$7.16 billion and had a net profit of HK$1.68 billion
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