B of A Securities Maintains Buy on Tencent Music Enter Gr, Lowers Price Target to $8.8
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Lei Zhang maintains a 'Buy' rating on Tencent Music Enter Gr (NYSE:TME) but lowers the price target from $10 to $8.8.
August 16, 2023 | 3:51 pm
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NEUTRAL IMPACT
Despite the lowered price target, B of A Securities maintains a 'Buy' rating on Tencent Music Enter Gr, indicating continued confidence in the company's performance.
The lowered price target may cause some short-term uncertainty among investors, potentially impacting the stock price. However, the maintained 'Buy' rating indicates that the analyst still sees potential in the company, which could balance out any negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100