Stifel Nicolaus analyst John Egbert maintained a Hold rating on Tencent Music Entertainment Group (NYSE:TME) on Sunday, setting a price target of $14, which is approximately 12.61% below the present share price of $16.02.
Egbert expects Tencent Music Entertainment Group to post earnings per share (EPS) of $0.54 for the third quarter of 2020.
The current consensus among 6 TipRanks analysts is for a Moderate Buy rating of shares in Tencent Music Entertainment Group, with an average price target of $18.06.
The analysts price targets range from a high of $24 to a low of $14.
In its latest earnings report, released on 03/31/2020, the company reported a quarterly revenue of $6.31 billion and a net profit of $815 million. The company's market cap is $26.87 billion.
According to TipRanks.com, Stifel Nicolaus analyst John Egbert is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 20.3% and a 57.97% 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.