Tencent Music Entertainment Group’s (NYSE:TME) quiet period will expire on Monday, January 21st. Tencent Music Entertainment Group had issued 82,000,000 shares in its public offering on December 12th. The total size of the offering was $1,066,000,000 based on an initial share price of $13.00. During the company’s quiet period, underwriters and any insiders that worked on the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Several equities research analysts have weighed in on TME shares. Bank of America started coverage on Tencent Music Entertainment Group in a report on Monday, January 7th. They issued a “buy” rating and a $17.10 target price for the company. Goldman Sachs Group started coverage on Tencent Music Entertainment Group in a report on Sunday, January 6th. They issued a “buy” rating for the company. Morgan Stanley started coverage on Tencent Music Entertainment Group in a report on Monday, January 7th. They issued an “equal weight” rating for the company. Deutsche Bank started coverage on Tencent Music Entertainment Group in a report on Sunday, January 6th. They issued a “hold” rating and a $15.00 target price for the company. Finally, Stifel Nicolaus started coverage on Tencent Music Entertainment Group in a report on Monday, January 7th. They issued a “hold” rating and a $14.00 target price for the company. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Tencent Music Entertainment Group presently has a consensus rating of “Buy” and an average target price of $16.28.

Shares of NYSE TME opened at $12.89 on Monday. Tencent Music Entertainment Group has a 1-year low of $11.81 and a 1-year high of $14.75.

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About Tencent Music Entertainment Group

Tencent Music Entertainment Group operates an online music entertainment platform that provides online music and music-centric social entertainment services in China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover and listen to music in personalized ways; and WeSing, which enables users to have fun by singing and interacting with friends, sharing their singing performances with friends, and discovering songs that others have sung.

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