Morgan Stanley raised the firm’s price target on Tencent Music (TME) to $16.50 from $14.70 and keeps an Overweight rating on the shares. The firm says that with overall positive growth outlook unchanged, average revenue per paying user will contribute more. In Q1 2025, Tencent did well in balancing paying user scale and ARPPU uplifting, with SVIP penetration and less promotion activities in holidays contributing to the growth, Morgan Stanley says. Meanwhile, the company is confident that ARPPU will do more heavy lifting.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TME:
- UnitedHealth suspends outlook, Under Armour reports Q4 beat; Morning Buzz
- Tencent Music reports Q1 EPS 38c
- ‘Don’t Let Big Tech Steal Our Work’ – 400 UK Artists Sound the Alarm Over AI Copyright Pinch
- Is TME a Buy, Before Earnings?
- China weighs U.S. tariff exemptions, Alphabet reports Q1 beat: Morning Buzz