Published On: Fri, Sep 23rd, 2016

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.

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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.

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