Zacks Investment Research lowered shares of Tencent (OTCMKTS:TCEHY) from a buy rating to a hold rating in a report issued on Saturday.
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. “
A number of other equities analysts also recently issued reports on TCEHY. Wells Fargo & Co assumed coverage on Tencent in a research report on Wednesday, September 27th. They set an outperform rating on the stock. Benchmark reiterated a buy rating on shares of Tencent in a research report on Thursday, November 16th. Finally, Barclays increased their price target on Tencent from $49.00 to $59.00 and gave the stock an overweight rating in a research report on Monday, November 20th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $58.00.
Tencent Company Profile
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.
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