Fenghuang.com Hong Kong stocksDeutsche Bank AGAnalyst Leo Chiang willTencent Music(TME) rating downgraded from buy to hold, target price cut from $22 to $9. The analyst said that Tencent Music lowered its social entertainment business outlook for the second half of the year in its financial report. He believes that after the Municipal Supervision Bureau ordered Tencent Music to give up the implementation of exclusive music copyrights, its industry competition pattern may change.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.
Comments