Tencent (OTCMKTS:TCEHY) Downgraded to Hold Rating by Erste Group Bank

Erste Group Bank lowered shares of Tencent (OTCMKTS:TCEHY) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, Marketbeat.com reports.

A number of other analysts also recently issued reports on TCEHY. Barclays reaffirmed an “overweight” rating and issued a $102.00 target price on shares of Tencent in a research note on Friday, November 14th. Zacks Research upgraded Tencent from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Tencent has a consensus rating of “Buy” and a consensus price target of $102.00.

Tencent Stock Performance

TCEHY opened at $68.33 on Wednesday. Tencent has a twelve month low of $52.30 and a twelve month high of $87.68. The firm has a market capitalization of $622.24 billion, a PE ratio of 21.02 and a beta of 0.27. The company has a current ratio of 1.36, a quick ratio of 1.35 and a debt-to-equity ratio of 0.26. The firm’s 50-day moving average price is $76.20 and its 200 day moving average price is $78.70.

Tencent Company Profile

Tencent Holdings Limited is a Chinese multinational technology conglomerate headquartered in Shenzhen, Guangdong. Founded in 1998, the company grew from early instant-messaging products into a diversified internet services group and is listed on the Hong Kong Stock Exchange. Tencent’s businesses span consumer-facing applications, digital content, cloud services and financial technology, supported by a broad investment program in global technology and gaming companies.

At the consumer level Tencent operates major social and communication platforms such as QQ and WeChat (Weixin), which combine messaging, social networking, mobile payments and a wide range of mini-programs and services.