Tencent Holding Ltd. (TCEHY) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Tencent Holding Ltd. (OTCMKTS:TCEHY) from a hold rating to a buy rating in a research note published on Wednesday. Zacks Investment Research currently has $50.00 price target on the technology company’s stock.
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. “
TCEHY has been the topic of a number of other reports. Wells Fargo & Company assumed coverage on Tencent Holding in a report on Wednesday, September 27th. They set an outperform rating on the stock. Barclays PLC set a $46.00 price target on Tencent Holding and gave the company a buy rating in a report on Thursday, August 10th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Tencent Holding presently has an average rating of Buy and a consensus target price of $49.50.
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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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