Tencent Music Entertainment Group (TME) Stock Forecast & Price Target

$10.92 -0.63 (-5.45%)

(As of 11/12/2024 ET)

Tencent Music Entertainment Group - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Moderate Buy

Based on 15 Analyst Ratings

Sell
0

Hold
4

Buy
11

Based on 15 Wall Street analysts who have issued ratings for Tencent Music Entertainment Group in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 15 analysts, 4 have given a hold rating, and 11 have given a buy rating for TME.

Consensus Price Target

$13.03
19.33% Upside

According to the 15 analysts' twelve-month price targets for Tencent Music Entertainment Group, the average price target is $13.03. The highest price target for TME is $16.00, while the lowest price target for TME is $10.00. The average price target represents a forecasted upside of 19.33% from the current price of $10.92.

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TME Analyst Ratings Over Time

Type	Current Forecast 11/14/23 to 11/13/24	1 Month Ago 10/15/23 to 10/14/24	3 Months Ago 8/16/23 to 8/15/24	1 Year Ago 11/14/22 to 11/14/23
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	11 Buy rating(s)	9 Buy rating(s)	10 Buy rating(s)	6 Buy rating(s)
Hold	4 Hold rating(s)	4 Hold rating(s)	3 Hold rating(s)	5 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$13.03	$12.67	$12.72	$8.72
Forecasted Upside	19.33% Upside	-0.21% Downside	15.94% Upside	13.84% Upside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Moderate Buy

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TME Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

TME Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Tencent Music Entertainment Group Stock vs. The Competition

Type	Tencent Music Entertainment Group	Computer and Technology Companies	S&P 500
Consensus Rating Score	2.73	2.68	2.50
Consensus Rating	Moderate Buy	Moderate Buy	Hold
Predicted Upside	19.33% Upside	554.60% Upside	7.92% Upside
News Sentiment Rating	Positive News See Recent TME News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
11/6/2024	Barclays 3 of 5 stars	J. Shao Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Overweight	$16.00	+36.34%
11/4/2024	Sanford C. Bernstein 3 of 5 stars	B. Van Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Outperform	$14.00	+25.90%
9/25/2024	Morgan Stanley 3 of 5 stars		Downgrade	Overweight ➝ Equal Weight	$15.00 ➝ $13.00	+13.24%
8/14/2024	Benchmark Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$19.00 ➝ $15.00	+34.29%
8/14/2024	Mizuho Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform ➝ Outperform	$17.00 ➝ $16.00	+42.48%
8/14/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$18.00 ➝ $15.00	+34.65%
Get the Latest News and Ratings for TME and Related Stocks Enter your email address below to receive the latest news and analysts' ratings for Tencent Music Entertainment Group and its competitors with MarketBeat's FREE daily newsletter.
8/13/2024	Daiwa America Subscribe to MarketBeat All Access for the recommendation accuracy rating	C. Chan Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Strong-Buy ➝ Hold
8/13/2024	Daiwa Capital Markets Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Outperform ➝ Neutral
3/20/2024	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Buy	$14.00	+27.16%
3/20/2024	HSBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold ➝ Hold	$9.50 ➝ $10.40	-5.54%
3/20/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Buy	$9.00 ➝ $13.00	+18.07%
2/5/2024	CLSA Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Outperform	$10.50	+15.89%
2/5/2024	Redburn Atlantic Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Buy	$12.00	+32.45%
1/24/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Buy	$10.50	+22.38%
11/16/2023	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Overweight	$7.00 ➝ $10.00	+21.43%
5/17/2023	888 Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Maintains
5/17/2023	51job Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Maintains
5/17/2023	China Renaissance Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Hold ➝ Buy	$10.60	+38.20%
5/17/2023	Macquarie Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Underperform ➝ Neutral	$5.10 ➝ $7.40	-3.52%
1/19/2023	86 Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Buy ➝ Hold

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Wednesday at 07:47 AM ET.

TME Forecast - Frequently Asked Questions

: According to the research reports of 15 Wall Street equities research analysts, the average twelve-month stock price forecast for Tencent Music Entertainment Group is $13.03, with a high forecast of $16.00 and a low forecast of $10.00.
: 15 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Tencent Music Entertainment Group in the last twelve months. There are currently 4 hold ratings and 11 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" TME shares.
: According to analysts, Tencent Music Entertainment Group's stock has a predicted upside of 19.33% based on their 12-month stock forecasts.
: Over the previous 90 days, Tencent Music Entertainment Group's stock had 1 downgrade by analysts.
: Tencent Music Entertainment Group has been rated by research analysts at Barclays, Morgan Stanley, and Sanford C. Bernstein in the past 90 days.
: Analysts like Tencent Music Entertainment Group more than other "computer and technology" companies. The consensus rating score for Tencent Music Entertainment Group is 2.73 while the average consensus rating score for "computer and technology" companies is 2.67. Learn more on how TME compares to other companies.

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This page (NYSE:TME) was last updated on 11/13/2024 by MarketBeat.com Staff

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Tencent Music Entertainment Group (TME) Stock Forecast & Price Target