TME's Ximalaya Acquisition Likely to Help Its Long-Form Audio -- Market Talk

Dow Jones05-13

0334 GMT - Chinese regulators' conditional approval for TME's Ximalaya acquisition could help its long-form audio segment, Citi analysts say in a research note. China's market watchdog on Tuesday approved its acquisition of the online audio platform on condition that it fulfills a series of restrictive commitments to ensure fair market competition. Separately, TME's management continues to "sound cautious on intensifying competition and the disruptive impact of AI" on the music streaming business after it reported in-line 1Q results, the analysts say. Management expects near-term pressure on membership and ad revenue growth mainly related to the movement of price-sensitive casual users, they say. Citi maintains a buy rating TME's ADRs but lowers its target price to $13.00 from $15.00. TME's ADRs last ended at $9.07. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

May 12, 2026 23:34 ET (03:34 GMT)

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China's market watchdog on Tuesday approved its acquisition of the online audio platform on condition that it fulfills a series of restrictive commitments to ensure fair market competition. Separately, TME's management continues to \"sound cautious on intensifying competition and the disruptive impact of AI\" on the music streaming business after it reported in-line 1Q results, the analysts say. Management expects near-term pressure on membership and ad revenue growth mainly related to the movement of price-sensitive casual users, they say. Citi maintains a buy rating TME's ADRs but lowers its target price to $13.00 from $15.00. TME's ADRs last ended at $9.07. 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China's market watchdog on Tuesday approved its acquisition of the online audio platform on condition that it fulfills a series of restrictive commitments to ensure fair market competition. Separately, TME's management continues to \"sound cautious on intensifying competition and the disruptive impact of AI\" on the music streaming business after it reported in-line 1Q results, the analysts say. Management expects near-term pressure on membership and ad revenue growth mainly related to the movement of price-sensitive casual users, they say. Citi maintains a buy rating TME's ADRs but lowers its target price to $13.00 from $15.00. TME's ADRs last ended at $9.07. 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