Barclays Raises Tencent (OTCMKTS:TCEHY) Price Target to $48.00

Tencent (OTCMKTS:TCEHYGet Rating) had its price objective boosted by analysts at Barclays from $36.00 to $48.00 in a research note issued to investors on Wednesday, The Fly reports. Barclays‘s price target indicates a potential downside of 5.68% from the company’s previous close.

A number of other brokerages have also recently weighed in on TCEHY. KGI Securities cut Tencent from an “outperform” rating to a “neutral” rating in a research note on Monday, October 24th. Mizuho boosted their price objective on Tencent from $300.00 to $330.00 in a research note on Thursday, January 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $189.00.

Tencent Stock Down 0.5 %

Shares of TCEHY opened at $50.89 on Wednesday. The stock has a 50 day moving average price of $41.97 and a 200 day moving average price of $38.36. The company has a market capitalization of $486.95 billion, a price-to-earnings ratio of 18.31 and a beta of 0.29. Tencent has a 52-week low of $24.75 and a 52-week high of $63.00.

Tencent (OTCMKTS:TCEHYGet Rating) last announced its quarterly earnings results on Wednesday, November 16th. The technology company reported $0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.37. The firm had revenue of $19.73 billion during the quarter, compared to the consensus estimate of $20.32 billion. Tencent had a return on equity of 8.93% and a net margin of 32.16%. On average, equities analysts anticipate that Tencent will post 1.29 EPS for the current fiscal year.

Tencent Company Profile

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Tencent Holdings Limited, an investment holding company, provides value-added services (VAS) and Online advertising services in Mainland China and internationally. The company operates through VAS, Online Advertising, FinTech and Business Services, and Others segments. It offers online games and social network services; FinTech and cloud services, and online advertising services.

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