Tencent Holding Ltd. (TCEHY) Receives $49.00 Average Target Price from Brokerages
Tencent Holding Ltd. (OTCMKTS:TCEHY) has been given an average recommendation of “Buy” by the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $49.00.
Several research analysts have commented on TCEHY shares. Barclays PLC set a $46.00 price target on shares of Tencent Holding and gave the stock a “buy” rating in a research note on Thursday, August 10th. Zacks Investment Research raised shares of Tencent Holding from a “sell” rating to a “hold” rating in a research note on Thursday, June 8th. Finally, Wells Fargo & Company started coverage on shares of Tencent Holding in a research note on Wednesday. They set an “outperform” rating on the stock.
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Tencent Holding (TCEHY) traded up 2.725% during trading on Wednesday, reaching $43.915. 1,609,609 shares of the company were exchanged. The company has a market capitalization of $413.04 billion, a P/E ratio of 50.652 and a beta of 0.91. Tencent Holding has a one year low of $23.00 and a one year high of $44.71. The firm’s 50-day moving average is $41.84 and its 200 day moving average is $35.26.
About Tencent Holding
Tencent Holdings Limited is an investment holding company principally involved in the provision of value-added services (VAS) and online advertising services. The Company operates through three main segments. The VAS segment is mainly involved in provision of online/mobile games, community value-added services and applications across various Internet and mobile platforms.
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