Tencent Holding Ltd. (TCEHY) Stock Rating Lowered by Zacks Investment Research
Tencent Holding Ltd. (OTCMKTS:TCEHY) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Tencent Holdings Limited is an Internet service portal. Tencent provides value-added Internet, mobile and telecom services and online advertising. Tencent’s leading Internet platforms in China are QQ Instant Messenger, QQ.com, QQ Games, Qzone, 3g.QQ.com, SoSo, PaiPai and Tenpay. It has brought together China’s largest Internet community, to meet the various needs of Internet users including communication, information, entertainment, e-commerce and others. Tencent Holdings Limited is headquartered in Shenzhen, the People’s Republic of China. “
Several other research analysts also recently commented on TCEHY. Wells Fargo & Company assumed coverage on Tencent Holding in a research note on Wednesday, September 27th. They set an “outperform” rating for the company. Barclays PLC boosted their target price on Tencent Holding from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Friday, August 18th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $49.00.
Shares of Tencent Holding (TCEHY) opened at 44.785 on Wednesday. The firm has a market cap of $421.23 billion, a PE ratio of 51.655 and a beta of 0.89. The company’s 50 day moving average is $43.80 and its 200-day moving average is $37.71. Tencent Holding has a 12 month low of $23.00 and a 12 month high of $45.54.
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Tencent Holding Company Profile
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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