Investors

Zacks Investment Research Downgrades Tencent (OTCMKTS:TCEHY) to Hold

Tencent logoTencent (OTCMKTS:TCEHY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

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 subject of a number of other reports. Barclays lifted their price objective on Tencent from $81.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, November 16th. Sanford C. Bernstein initiated coverage on Tencent in a report on Monday, January 25th. They set an “outperform” rating for the company. Atlantic Securities began coverage on Tencent in a report on Monday, October 19th. They set an “overweight” rating for the company. Morgan Stanley began coverage on Tencent in a report on Wednesday, February 3rd. They issued a “buy” rating and a $92.87 price target for the company. Finally, Investec cut Tencent from a “hold” rating to a “sell” rating in a report on Friday, January 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $88.74.

Shares of OTCMKTS TCEHY opened at $97.31 on Tuesday. The stock has a market cap of $932.90 billion, a PE ratio of 53.76 and a beta of 0.63. The business has a fifty day moving average of $86.33 and a two-hundred day moving average of $75.15. Tencent has a 52-week low of $40.80 and a 52-week high of $99.40. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 1.34.

Tencent Company Profile

Tencent Holdings Limited, an investment holding company, provides value-added services (VAS) and Internet advertising services in Mainland China, the United States, Europe, and internationally. The company operates through VAS, FinTech and Business Services, Online Advertising, and Others segments. It offers online games and social network services; FinTech and cloud services; and online advertising services, such as media, social, and others advertisement services.

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Analyst Recommendations for Tencent (OTCMKTS:TCEHY)

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Source: https://rivertonroll.com/news/2021/02/18/zacks-investment-research-downgrades-tencent-otcmktstcehy-to-hold.html

Donovan Larsen

Donovan is a columnist and associate editor at the Dark News. He has written on everything from the politics to diversity issues in the workplace.

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