Zacks Investment Research lowered shares of Tencent Holding Ltd. (OTCMKTS:TCEHY) from a strong-buy rating to a hold rating in a report issued on Wednesday, October 18th.
According to Zacks, “Tencent Holdings Limited is an Internet service portal. Tencent provides value-added Internet, mobile and telecom services and online advertising. Tencent’s leading Internet platforms in China are QQ Instant Messenger, QQ.com, QQ Games, Qzone, 3g.QQ.com, SoSo, PaiPai and Tenpay. It has brought together China’s largest Internet community, to meet the various needs of Internet users including communication, information, entertainment, e-commerce and others. Tencent Holdings Limited is headquartered in Shenzhen, the People’s Republic of China. “
TCEHY has been the subject of a number of other research reports. Wells Fargo & Company started coverage on Tencent Holding in a report on Wednesday, September 27th. They set an outperform rating for the company. Barclays PLC set a $46.00 price objective on shares of Tencent Holding and gave the company a buy rating in a research report on Thursday, August 10th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Tencent Holding currently has an average rating of Buy and an average price target of $49.50.
Tencent Holding (OTCMKTS:TCEHY) traded up $1.63 on Wednesday, hitting $48.88. The company’s stock had a trading volume of 2,040,000 shares, compared to its average volume of 1,670,000. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.36 and a current ratio of 1.36. Tencent Holding has a 1 year low of $23.00 and a 1 year high of $49.00.
Tencent Holding Company Profile
Tencent Holdings Limited is an investment holding company principally involved in the provision of value-added services (VAS) and online advertising services. The Company operates through three main segments. The VAS segment is mainly involved in provision of online/mobile games, community value-added services and applications across various Internet and mobile platforms.
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