Tencent Music Entertainment Group Class A (1698) Gets a Buy from UBS

UBS analyst maintained a Buy rating on Tencent Music Entertainment Group Class A on November 26 and set a price target of HK$101.40. The company’s shares closed yesterday at HK$71.90.

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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$100.52, which is a 39.81% upside from current levels. In a report released on November 27, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a HK$80.00 price target.

Based on Tencent Music Entertainment Group Class A’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of HK$8.46 billion and a net profit of HK$2.15 billion. In comparison, last year the company earned a revenue of HK$7.02 billion and had a net profit of HK$1.58 billion