Tencent Holding Ltd. (TCEHY) Cut to Sell at Zacks Investment Research
Tencent Holding Ltd. (OTCMKTS:TCEHY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors 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. “
Separately, JPMorgan Chase & Co. restated an “overweight” rating on shares of Tencent Holding in a research note on Thursday, September 1st.
Shares of Tencent Holding (OTCMKTS:TCEHY) opened at 25.225 on Friday. Tencent Holding has a 1-year low of $16.76 and a 1-year high of $28.24. The company’s 50-day moving average price is $26.78 and its 200-day moving average price is $24.51. The company has a market capitalization of $236.33 billion, a PE ratio of 46.974 and a beta of 1.24.
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