Citigroup Downgrades Tencent Music Enter Gr to Neutral, Lowers Price Target to $7.5
Portfolio Pulse from richadhand@benzinga.com
Citigroup analyst Alicia Yap has downgraded Tencent Music Enter Gr (NYSE:TME) from Buy to Neutral and lowered the price target from $9.7 to $7.5.
July 31, 2023 | 8:58 am
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Tencent Music Enter Gr has been downgraded from Buy to Neutral by Citigroup, with a lowered price target of $7.5.
The downgrade from Buy to Neutral by Citigroup indicates a less optimistic outlook for Tencent Music Enter Gr. The lowered price target from $9.7 to $7.5 suggests that the analyst believes the stock is overvalued at current levels. This could potentially lead to a decrease in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100