Tencent (OTCMKTS:TCEHY) Cut to Hold at Erste Group Bank

Tencent (OTCMKTS:TCEHY) was downgraded by stock analysts at Erste Group Bank from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

A number of other brokerages have also recently weighed in on TCEHY. Zacks Research upgraded Tencent from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 20th. Barclays reissued an “overweight” rating and set a $102.00 price objective on shares of Tencent in a research report on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $102.00.

Tencent Stock Up 0.9%

OTCMKTS TCEHY traded up $0.62 during trading on Wednesday, reaching $68.50. 411,675 shares of the company’s stock were exchanged, compared to its average volume of 3,154,871. The company has a 50 day moving average price of $76.38 and a two-hundred day moving average price of $78.77. The stock has a market cap of $624.92 billion, a P/E ratio of 21.08 and a beta of 0.27. Tencent has a 1 year low of $52.30 and a 1 year high of $87.68. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.35 and a current ratio of 1.36.

About Tencent

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.