Morgan Stanley lowered the firm’s price target on Tencent Music (TME) to $25 from $27.50 and keeps an Overweight rating on the shares. The firm reduced its bull case valuation by 17% to $28, given that approval of the Ximalaya deal may still take time, and increased its bear case by 1.8% to $16.80 as it rolled forward its valuation by three months, the analyst tells investors.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TME:
- Maintaining Buy on Tencent Music: Long-Term Growth, Strategic Investments, and Attractive Upside Despite Near-Term Margin Pressure
- Tencent Music price target lowered to $21 from $25 at BofA
- Tencent Music price target lowered to $25 from $28 at Benchmark
- Strong Financial Performance and Strategic Investments Drive Buy Rating for Tencent Music
- Tencent Music Reports Strong Q3 2025 Growth