Tencent Music's Postresults Stock Weakness Presents an Opportunity -- Market Talk

Dow Jones11-13

0522 GMT - Tencent Music Entertainment's share-price weakness following its results presents an enhanced buying opportunity, Citi analysts led by Alicia Yap say in a research note. While the third-quarter results were relatively in line with overall expectations, the net addition of 2 million paying users on quarter is slightly better than expected, the analysts say. Citi raises its 2024-2026 revenue and adjusted profit forecasts for the Chinese music-streaming provider by 0.3% and 1.8%, respectively. It keeps a buy rating but trims the target price on ADRs to US$14.50 from US$15.00. Tencent Music's ADRs closed 5.45% lower at US$10.92; its Hong Kong-listed shares are down 8.7% at HK$41.30. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

November 13, 2024 00:22 ET (05:22 GMT)

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Citi raises its 2024-2026 revenue and adjusted profit forecasts for the Chinese music-streaming provider by 0.3% and 1.8%, respectively. It keeps a buy rating but trims the target price on ADRs to US$14.50 from US$15.00. Tencent Music's ADRs closed 5.45% lower at US$10.92; its Hong Kong-listed shares are down 8.7% at HK$41.30. 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While the third-...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4509","symbol_name":"腾讯概念","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2483989045","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483989045","pubTimestamp":1731475320,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0522 GMT - Tencent Music Entertainment's share-price weakness following its results presents an enhanced buying opportunity, Citi analysts led by Alicia Yap say in a research note. 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