Tencent (OTCMKTS:TCEHY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Zacks.com reports. The firm currently has a $93.00 price target on the technology company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 18.82% from the stock’s current price.
According to Zacks, “Tencent Holdings Limited is an Internet service portal. Tencent provides value-added Internet, mobile and telecom services and online advertising. Tencent’s leading Internet platforms in China are QQ Instant Messenger, QQ.com, QQ Games, Qzone, 3g.QQ.com, SoSo, PaiPai and Tenpay. It has brought together China’s largest Internet community, to meet the various needs of Internet users including communication, information, entertainment, e-commerce and others. Tencent Holdings Limited is headquartered in Shenzhen, the People’s Republic of China. “
Several other equities analysts have also weighed in on TCEHY. Investec lowered shares of Tencent from a “hold” rating to a “sell” rating in a research report on Friday, January 22nd. Barclays raised their price target on shares of Tencent from $89.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 16th. Morgan Stanley assumed coverage on shares of Tencent in a research report on Wednesday, February 3rd. They set a “buy” rating and a $92.87 price target on the stock. Mizuho reaffirmed a “buy” rating on shares of Tencent in a research report on Monday, March 22nd. Finally, Sanford C. Bernstein began coverage on shares of Tencent in a research report on Monday, January 25th. They set an “outperform” rating on the stock. One analyst has rated the stock with a sell rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $86.46.
Tencent Company Profile
Tencent Holdings Limited, an investment holding company, provides value-added services (VAS) and Internet advertising services in Mainland China, the United States, Europe, and internationally. The company operates through VAS, FinTech and Business Services, Online Advertising, and Others segments. It offers online games and social network services; FinTech and cloud services; and online advertising services, such as media, social, and others advertisement services.
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