Tencent Music (TME) tops earnings, revenue expectations in Q4

Tencent Music Entertainment Group (TME) PT Raised to $13 at CFRA

CFRA analyst Ahmad Halim raised the price target on Tencent Music Entertainment Group (NYSE: TME) to $13.00 (from $9.00) while maintaining a Buy rating.

The analyst comments "Following TME's in-line 2023 results, we keep our 2024 earnings per ADS forecast unchanged at CNY3.60, and we start... More

Goldman Sachs Upgrades Tencent Music Entertainment Group (TME) to Buy

Goldman Sachs analyst Ronald Keung upgraded Tencent Music Entertainment Group (NYSE: TME) from Neutral to Buy with a price target of $14.00 (from $11.20).

For an analyst ratings summary and ratings history on Tencent Music Entertainment Group... More

Tencent Music Entertainment Group (TME) PT Raised to $10.40 at HSBC on strong outlook

(Updated - March 20, 2024 7:27 AM EDT)

HSBC analyst Charlene Liu raised the price target on Tencent Music Entertainment Group (NYSE: TME) to $10.40 (from $9.50) while maintaining a Hold rating.

The analyst commented: "Gross margin expansion outlook is a positive surprise: Better-than-expected online music GPM drove the earnings beat in 4Q23. Incremental operating... More

Tencent Music Entertainment Group (TME) PT Raised to $14 at Benchmark

Benchmark analyst Fawne Jiang raised the price target on Tencent Music Entertainment Group (NYSE: TME) to $14.00 (from $9.00) while maintaining a Buy rating.... More

Tencent Music Entertainment Group (TME) PT Raised to $12.30 at BofA Securities

BofA Securities analyst Lei Zhang raised the price target on Tencent Music Entertainment Group (NYSE: TME) to $12.30 (from $10.50) while maintaining a Buy rating.

The analyst comments "TME delivered a solid beat on its 4Q results with dual engine of better music paying users and improved ARPU. And we expect the growth momentum of the music... More

Tencent Music Entertainment Group (TME) PT Raised to $13.50 at Morgan Stanley, 'executing well on its medium-term targets'

Morgan Stanley analyst Alex Poon raised the price target on Tencent Music Entertainment Group (NYSE: TME) to $13.50 (from $11.00) while maintaining a Overweight rating.

The analyst comments "We think TME is executing well on its medium-term targets - to grow subs and... More

Citi Upgrades Tencent Music Entertainment Group (TME) to Buy, 'Sustained Music Growth w/ Margin Expansion'

Citi analyst Alicia Yap upgraded Tencent Music Entertainment Group (NYSE: TME) from Neutral to Buy with a price target of $13.00 (from $9.00).

The analyst comments "TMEs 4Q23 results came ahead of expectation with total revs -7.2% yoy to Rmb6.89bn and adj. NP +12.5% yoy to Rmb1.68bn, 2.4%/2.9% and 8.2%/7.9%... More

Tencent Music Entertainment Group (TME) PT Raised to $13 at Mizuho

Mizuho analyst Wei Fang raised the price target on Tencent Music Entertainment Group (NYSE: TME) to $13.00 (from $12.00) while maintaining a Buy rating.

The analyst comments "Core music revenue beat consensus by 5 points, driven by accelerated subscriptions in business and advertising. The mix shift lifted... More

Tencent Music (TME) Tops Q4 EPS by 11c

Tencent Music (NYSE: TME) reported Q4 EPS of RMB1.00, RMB0.11 better than the analyst estimate of RMB0.89. Revenue for the quarter came in at RMB6.89 billion versus the consensus estimate of RMB6.67 billion.

For earnings history and earnings-related data on Tencent Music (TME) click here.