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<Research>Citi Maintains Positive View on Tencent Music Entertainment Group (TME.US), Reiterates Rating at Buy
Recommend 6 Positive 2 Negative 2 |
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TME-SW (01698.HK)'s 3Q25 revenue and earnings beat expectations, with a positive 4Q25 outlook, Citi Research issued a research report saying. However, the price of its US stock continued to decline post-results, which the broker attributed to investor risk aversion and increased caution due to ByteDance's participation in the competition. The quality of users attracted by TME-SW is distinct from its peers, and its ability to integrate Tencent's games and video IP helps users and artists recognize the Company's value proposition. Therefore, Citi Research reiterated rating at Buy, and kept its target price for Tencent Music Entertainment Group (TME.US) at US$29. AASTOCKS Financial News Website: www.aastocks.com |
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