Music Streaming Giant TME Gets Thumbs Up from Analyst

Tencent Music Entertainment Group, a China-based online music platform, has caught the attention of analysts. Boris Van from Bernstein recently issued a favorable report, recommending investors buy TME's shares. Van set a price target of $13. 00, which is higher than the current share price of $10. 74. TipRanks data shows that Van is ranked among many analysts, but his views carry weight. Other analysts also seem positive. The consensus is a Strong Buy, with an average price target of $14. 64, indicating a potential 36. 31% increase. Another firm, 86Research, upgraded TME to a Buy with a target of $14. 00. TME, a subsidiary of Tencent Holdings, offers music streaming, online karaoke, and live streaming services. It has a market cap of $17. 61B and a P/E ratio of 19. 90. Investors who upgrade to TipRanks Premium can gain exclusive data on insiders' transactions to make informed decisions.