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home / news releases / tencent music entertainment is a buy following earni

TME - Tencent Music Entertainment Is A Buy Following Earnings Beat (Rating Upgrade)

Tencent Music Entertainment Group American Depositary Shares each representing two Class A

2024-05-13 10:16:03 ET

Summary

  • Tencent Music Entertainment's Q1 2024 normalized EPS in local currency terms came in +7.9% above the sell-side analysts' consensus forecast.
  • My view of TME's outlook is favorable, considering third-party research, peer comparisons, and management commentary.
  • I have revised my rating for Tencent Music Entertainment to a Buy after taking into account its performance, prospects, and valuations.

Elevator Pitch

I rate Tencent Music Entertainment Group ( TME ) [1698:HK] stock as a Buy.

Previously, I touched on the prospects of TME's music business and the company's capital return in my January 11, 2024 write-up . The current update analyzes Tencent Music Entertainment's latest Q1 2024 financial performance, and also evaluates TME's prospects and valuations....

For further details see:

Tencent Music Entertainment Is A Buy Following Earnings Beat (Rating Upgrade)
Stock Information
Company Name: Tencent Music Entertainment Group American Depositary Shares each representing two Class A
Stock Symbol: TME
Market: NYSE
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