Tencent (TCEHY) Cut to Hold at Zacks Investment Research
Zacks Investment Research lowered shares of Tencent (OTCMKTS:TCEHY) from a buy rating to a hold rating in a report issued on Saturday morning.
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 research reports. Barclays increased their price target on shares of Tencent from $49.00 to $59.00 and gave the stock an overweight rating in a report on Monday, November 20th. Wells Fargo & Co initiated coverage on shares of Tencent in a report on Wednesday, September 27th. They issued an outperform rating on the stock. Finally, Benchmark reissued a buy rating on shares of Tencent in a report on Thursday, November 16th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Tencent presently has a consensus rating of Buy and a consensus target price of $58.00.
Tencent (OTCMKTS TCEHY) opened at $56.47 on Friday. Tencent has a twelve month low of $25.06 and a twelve month high of $56.60. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.45.
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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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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