Tencent Music Entertainment Group (TME) Gets a Buy Rating from Needham

In a report released today, Vincent Yu from Needham assigned a Buy rating to Tencent Music Entertainment Group (TMEResearch Report), with a price target of $25.00. The company’s shares closed last Friday at $22.14, close to its 52-week high of $22.25.

According to TipRanks.com, Yu is a 5-star analyst with an average return of 46.4% and a 57.8% success rate. Yu covers the Technology sector, focusing on stocks such as China Online Education Group, So-Young International, and 36Kr Holdings Inc.

Tencent Music Entertainment Group has an analyst consensus of Strong Buy, with a price target consensus of $22.00, which is a 1.4% upside from current levels. In a report issued on January 4, Oppenheimer also assigned a Buy rating to the stock with a $20.00 price target.

See today’s analyst top recommended stocks >>

The company has a one-year high of $22.25 and a one-year low of $9.22. Currently, Tencent Music Entertainment Group has an average volume of 10.17M.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Tencent Music Entertainment Group engages in the provision of online music entertainment services. It offers one-stop music services and solutions for smart devices, creating a complete music entertainment ecosystem. The company was founded by Jia Xin Peng on June 6, 2012 and is headquartered in Beijing, China.