Tencent (OTCMKTS:TCEHY) Rating Lowered to Hold at Erste Group Bank

Tencent (OTCMKTS:TCEHY) was downgraded by stock analysts at Erste Group Bank from a “buy” rating to a “hold” rating in a report released on Wednesday.

Other research analysts also recently issued reports about the company. Barclays reiterated an “overweight” rating and issued a $102.00 price target on shares of Tencent in a report on Friday, November 14th. Zacks Research upgraded shares of Tencent from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Tencent currently has a consensus rating of “Buy” and an average target price of $102.00.

Tencent Trading Up 0.9%

Shares of OTCMKTS:TCEHY traded up $0.62 during trading on Wednesday, reaching $68.50. 411,675 shares of the company were exchanged, compared to its average volume of 3,154,871. Tencent has a 12-month low of $52.30 and a 12-month high of $87.68. The firm has a market capitalization of $624.92 billion, a PE ratio of 21.08 and a beta of 0.27. The business’s fifty day simple moving average is $76.38 and its 200-day simple moving average is $78.77. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.36 and a quick ratio of 1.35.

About Tencent

Tencent Holdings Limited is a Chinese multinational technology conglomerate headquartered in Shenzhen, Guangdong. Founded in 1998, the company grew from early instant-messaging products into a diversified internet services group and is listed on the Hong Kong Stock Exchange. Tencent’s businesses span consumer-facing applications, digital content, cloud services and financial technology, supported by a broad investment program in global technology and gaming companies.

At the consumer level Tencent operates major social and communication platforms such as QQ and WeChat (Weixin), which combine messaging, social networking, mobile payments and a wide range of mini-programs and services.