Barclays Maintains Overweight on Tencent Holdings, Lowers Price Target to $46
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Jiong Shao has maintained an Overweight rating on Tencent Holdings (OTC:TCEHY) but reduced the price target from $50 to $46.

January 31, 2024 | 4:19 pm
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NEUTRAL IMPACT
Barclays has maintained an Overweight rating on Tencent Holdings but lowered the price target from $50 to $46, indicating a positive outlook but with a reduced growth expectation.
While the Overweight rating suggests that Barclays believes Tencent Holdings will outperform the market or sector average, the reduction in the price target may imply a tempered expectation for the company's stock price growth in the short term. This could lead to a neutral short-term impact on the stock as the positive rating is counterbalanced by the lower price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100