Shares of Tencent Music Entertainment Group (TME, Financial) fell 7.91% in mid-day trading on Oct 8. The stock reached an intraday low of $12.12, before recovering slightly to $12.29, down from its previous close of $13.34. This places TME 22.10% below its 52-week high of $15.77 and 94.69% above its 52-week low of $6.31. Trading volume was 4,984,915 shares, 43.4% of the average daily volume of 11,482,756.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 27 analysts, the average target price for Tencent Music Entertainment Group (TME, Financial) is $13.92 with a high estimate of $17.11 and a low estimate of $8.36. The average target implies an upside of 13.32% from the current price of $12.29. More detailed estimate data can be found on the Tencent Music Entertainment Group (TME) Forecast page.
Based on the consensus recommendation from 30 brokerage firms, Tencent Music Entertainment Group's (TME, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Tencent Music Entertainment Group (TME, Financial) in one year is $7.77, suggesting a downside of 36.75% from the current price of $12.285. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Tencent Music Entertainment Group (TME) Summary page.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
