Citigroup Maintains Neutral Rating for Tencent Music Enter Gr: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Citigroup has maintained its Neutral rating for Tencent Music Enter Gr (TME) but lowered its price target from $7.50 to $7.00. TME shares are currently trading up 5.01% over the last 24 hours, at $6.50 per share. A move to $7.00 would account for a 7.69% increase from the current share price.
August 16, 2023 | 5:00 pm
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Citigroup has maintained its Neutral rating for TME but lowered its price target. This could potentially lead to a short-term increase in TME's stock price.
Citigroup's decision to maintain its Neutral rating indicates that the bank sees no major changes in TME's business outlook. However, the lowering of the price target might suggest a more conservative view on the stock's future performance. Despite this, the stock is trading up, which could indicate investor optimism. Therefore, there might be a short-term increase in TME's stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100