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

$14.86
-0.27 (-1.78%)
(As of 07/15/2024 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

Consensus Price Target

$12.75
-14.23% Downside
High Forecast$19.00
Average Forecast$12.75
Low Forecast$10.00
TypeCurrent Forecast
7/16/23 to 7/15/24
1 Month Ago
6/16/23 to 6/15/24
3 Months Ago
4/17/23 to 4/16/24
1 Year Ago
7/16/22 to 7/16/23
Consensus Rating
Moderate Buy
Moderate Buy
Moderate Buy
Moderate Buy
Strong Buy
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
Buy
10 Buy rating(s)
10 Buy rating(s)
11 Buy rating(s)
7 Buy rating(s)
Hold
1 Hold rating(s)
1 Hold rating(s)
2 Hold rating(s)
3 Hold rating(s)
Sell
0 Sell rating(s)
0 Sell rating(s)
0 Sell rating(s)
0 Sell rating(s)
Consensus Price Target$12.75$12.75$11.63$9.14
Forecasted Upside-14.23% Downside18.25% Upside18.24% Upside21.05% Upside
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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.
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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.
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Tencent Music Entertainment Group Stock vs. The Competition

TypeTencent Music Entertainment GroupComputer and Technology CompaniesS&P 500
Consensus Rating Score
2.91
2.61
2.50
Consensus RatingModerate BuyModerate BuyModerate Buy
Predicted Upside-14.75% Downside131.69% Upside8.89% Upside
News Sentiment RatingVery Positive News
Positive News
Positive News
DateBrokerageAnalyst NameActionRatingPrice TargetUpside/Downside on Report DateDetails
5/14/2024Benchmark
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 Boost TargetBuy ➝ Buy$14.00 ➝ $19.00+29.52%
5/10/2024Mizuho
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 Boost TargetBuy ➝ Buy$13.00 ➝ $15.00+12.11%
3/20/2024Morgan Stanley
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 Boost TargetOverweight ➝ Overweight$11.00 ➝ $13.50+16.98%
3/20/2024The Goldman Sachs Group
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 UpgradeNeutral ➝ Buy$14.00+27.16%
3/20/2024Bank of America
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 Boost TargetBuy ➝ Buy$10.50 ➝ $12.30+11.72%
3/20/2024HSBC
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 Boost TargetHold ➝ Hold$9.50 ➝ $10.40-5.54%
3/20/2024Citigroup
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 UpgradeNeutral ➝ Buy$9.00 ➝ $13.00+18.07%
2/5/2024CLSA
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 Initiated CoverageOutperform$10.50+15.89%
2/5/2024Redburn Atlantic
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 Initiated CoverageBuy$12.00+32.45%
1/24/2024UBS Group
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 UpgradeNeutral ➝ Buy$10.50+22.38%
11/16/2023JPMorgan Chase & Co.
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 UpgradeNeutral ➝ Overweight$7.00 ➝ $10.00+21.43%
5/17/2023888
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 Reiterated RatingMaintains
5/17/202351job
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 Reiterated RatingMaintains
5/17/2023China Renaissance
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 UpgradeHold ➝ Buy$10.60+38.20%
5/17/2023Macquarie
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 UpgradeUnderperform ➝ Neutral$5.10 ➝ $7.40-3.52%
1/19/202386 Research
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 DowngradeBuy ➝ Hold
1/13/2023Daiwa Capital Markets
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 Initiated CoverageBuy

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Monday at 08:25 PM ET.

TME Forecast - Frequently Asked Questions

What is Tencent Music Entertainment Group's forecast for 2024?

According to the research reports of 11 Wall Street equities research analysts, the average twelve-month stock price forecast for Tencent Music Entertainment Group is $12.75, with a high forecast of $19.00 and a low forecast of $10.00.

Should I buy or sell Tencent Music Entertainment Group stock right now?

11 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Tencent Music Entertainment Group in the last year. There is currently 1 hold rating and 10 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" TME shares.

Does Tencent Music Entertainment Group's stock price have much upside?

According to analysts, Tencent Music Entertainment Group's stock has a predicted upside of 18.25% based on their 12-month stock forecasts.

What analysts cover Tencent Music Entertainment Group?

Tencent Music Entertainment Group has been rated by research analysts at Benchmark, and Mizuho in the past 90 days.

Do Wall Street analysts like Tencent Music Entertainment Group more than its competitors?

Analysts like Tencent Music Entertainment Group more than other "computer and technology" companies. The consensus rating score for Tencent Music Entertainment Group is 2.91 while the average consensus rating score for "computer and technology" companies is 2.61. Learn more on how TME compares to other companies.


This page (NYSE:TME) was last updated on 7/15/2024 by MarketBeat.com Staff

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