Oppenheimer analyst Bo Pei CFA maintained a Buy rating on Tencent Music Entertainment Group (NYSE:TME) on Wednesday, setting a price target of $20, which is approximately 33.78% above the present share price of $14.95.
Pei CFA expects Tencent Music Entertainment Group to post earnings per share (EPS) of $0.00 for the fourth quarter of 2020.
The current consensus among 5 TipRanks analysts is for a Strong Buy rating of shares in Tencent Music Entertainment Group, with an average price target of $18.16.
The analysts price targets range from a high of $20 to a low of $16.8.
In its latest earnings report, released on 06/30/2020, the company reported a quarterly revenue of $6.93 billion and a net profit of $867 million. The company's market cap is $25.08 billion.
According to TipRanks.com, Oppenheimer analyst Bo Pei CFA is currently ranked with 1 stars on a 0-5 stars ranking scale, with an average return of -11.3% and a 35.71% success rate.
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.