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<Research>BOCI Lowers TME-SW's TP to HKD60.8 w/ Rating Buy; Multiple Catalysts Expected to Be Coming In
Recommend 7 Positive 10 Negative 14 |
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TME-SW (01698.HK)'s 4Q25 total revenue beat market forecasts with a YoY growth of 16%, an achievement supported by a 41% YoY surge in the non-membership music business, BOCI wrote in its research report. Specifically, TME-SW delivered exceptional results in offline performances and managed to keep up the positive growth momentum in the advertising business. Its adjusted net profit climbed by 9% YoY to RMB2.5 billion, in line with market expectations. Remaining confident in its capabilities in commercialization and execution, BOCI expects TME-SW to receive different catalysts over time. The broker has kept a Buy rating on the company but reduced its target price to HKD60.8. AAStocks Financial News |
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