Tencent Music Entertainment Group Announces Third Quarter 2023 Unaudited Financial Results

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JPMorgan Upgrades Tencent Music Entertainment Group (TME) to Overweight, 'Own for positive earnings revision'

November 16, 2023 6:08 AM EST

JPMorgan analyst Alex Yao upgraded Tencent Music Entertainment Group (NYSE: TME) from Neutral to Overweight with a price target of $10.00 (from $7.00).

The analyst comments "We upgrade TME from Neutral to OW with new PTs of US$10/HK$40. Extrapolating recent positive business... More