Tencent Holding Ltd. (TCEHY) Upgraded by Zacks Investment Research to Buy
Tencent Holding Ltd. (OTCMKTS:TCEHY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage currently has a $31.00 price target on the stock. Zacks Investment Research’s price target would indicate a potential upside of 11.31% from the stock’s current price.
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. “
Separately, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Tencent Holding in a report on Thursday, September 1st.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/22/tencent-holding-ltd-tcehy-upgraded-by-zacks-investment-research-to-buy.html
Tencent Holding (OTCMKTS:TCEHY) traded up 1.53% during mid-day trading on Thursday, hitting $27.85. The stock had a trading volume of 1,725,104 shares. The stock has a market cap of $260.93 billion, a price-to-earnings ratio of 50.91 and a beta of 1.25. The company has a 50-day moving average of $26.07 and a 200-day moving average of $22.62. Tencent Holding has a 12-month low of $16.36 and a 12-month high of $27.87.
Get a free copy of the Zacks research report on Tencent Holding (TCEHY)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Tencent Holding Ltd. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Tencent Holding Ltd. and related companies with MarketBeat.com’s FREE daily email newsletter.