Tencent Music price target raised to $14.70 from $13 at Morgan Stanley

Morgan Stanley analyst Yang Liu raised the firm’s price target on Tencent Music (TME) to $14.70 from $13 and keeps an Overweight rating on the shares. Management provided a “positive” 2025 outlook with a focus on delivering financials and leaving more flexibility on operating metrics, the analyst tells investors in a research note. The firm added that it increased its 2025 and 2026 revenue and profit forecasts slightly post earnings.