Deutsche Bank: Downgrade Tencent Music (TME) Rating and Price Target

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Deutsche Bank: Downgrade Tencent Music (TME) Rating and Price Target

凤凰网港股2021-08-19

Ifeng.com Hong Kong stocksDeutsche BankAnalyst Leo Chiang willTencent Music(TME) rating 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 social entertainment business outlook for the second half of the year in its financial report. He believed that after the Municipal Supervision Bureau ordered Tencent Music to give up the implementation of exclusive music copyrights, its industry competition landscape may change.

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doudoumi
·2021-08-20
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