Ifeng.com Hong Kong Stocks |Deutsche BankAnalyst Leo Chiang willTencent Music(TME) was downgraded to Hold from Buy and the price target was sharply reduced to $9 from $22. The analyst said that Tencent Music lowered its outlook for social entertainment business in the second half of the year in its earnings report. He believed that its industry competition landscape may change after the Municipal Supervision Bureau ordered Tencent Music to give up the implementation of exclusive music copyright.Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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