Upgrades Neutral Outperform X

TME Tencent Music

Daiwa Securities

Upgrades Hold Buy X

TME Tencent Music

Deutsche Bank

Upgrades Eq-Weight Overweight X

TME Tencent Music

Morgan Stanley

Initiated Overweight X

TME Tencent Music

Barclays

$16

Initiated Outperform X

TME Tencent Music

Bernstein

$14

Downgrades Overweight Eq-Weight X

TME Tencent Music

Morgan Stanley

$13

Downgrades Outperform Neutral X

TME Tencent Music

Daiwa Securities

Upgrades Neutral Buy X

TME Tencent Music

Citigroup

$9 $13

Upgrades Neutral Buy X

TME Tencent Music

Goldman

$14

Initiated Outperform X

TME Tencent Music

CLSA

$10.50

Initiated Buy X

TME Tencent Music

Redburn Atlantic

$12

Upgrades Neutral Buy X

TME Tencent Music

UBS

$10.50

Upgrades Neutral Overweight X

TME Tencent Music

JP Morgan

Downgrades Buy Neutral X

TME Tencent Music

Citigroup

$9.70 $7.50

Downgrades Overweight Neutral X

TME Tencent Music

JP Morgan

$7.50

Upgrades Hold Buy X

TME Tencent Music

China Renaissance

$10.60

Upgrades Neutral Buy X

TME Tencent Music

Citigroup

$9.70

Upgrades Underperform Neutral X

TME Tencent Music

Macquarie

$5.10 $7.40

Initiated Buy X

TME Tencent Music

Mizuho

$10

Initiated Buy X

TME Tencent Music

Daiwa Securities

Upgrades Sell Neutral X

TME Tencent Music

Goldman

$8

Upgrades Eq-Weight Overweight X

TME Tencent Music

Morgan Stanley

$4.50 $8.50

Upgrades Neutral Overweight X

TME Tencent Music

JP Morgan

Upgrades Hold Buy X

TME Tencent Music

The Benchmark Company

$7

Resumed Sell X

TME Tencent Music

Goldman

$5.60

Downgrades Buy Hold X

TME Tencent Music

China Renaissance

$7.30

Initiated Hold X

TME Tencent Music

The Benchmark Company

Downgrades Buy Neutral X

TME Tencent Music

UBS

Downgrades Buy Neutral X

TME Tencent Music

Citigroup

$9 $8.50

Downgrades Overweight Eq-Weight X

TME Tencent Music

Morgan Stanley

$23 $14

Resumed Buy X

TME Tencent Music

China Renaissance

$22

Downgrades Buy Hold X

TME Tencent Music

China Renaissance

$18 $29

Reiterated Buy X

TME Tencent Music

Needham

$17 $21

Initiated Buy X

TME Tencent Music

Jefferies

Initiated Buy X

TME Tencent Music

Loop Capital

Downgrades Outperform Neutral X

TME Tencent Music

Credit Suisse

Initiated Outperform X

TME Tencent Music

Macquarie

Initiated Buy X

TME Tencent Music

HSBC Securities

Initiated Overweight X

TME Tencent Music

JP Morgan

Initiated Equal-Weight X

TME Tencent Music

Morgan Stanley

Initiated Buy X

TME Tencent Music

Goldman

Initiated Overweight X

TME Tencent Music

KeyBanc Capital Mkts

$19

Initiated Equal-Weight X

TME Tencent Music

Morgan Stanley

Initiated Hold X

TME Tencent Music

Stifel

$14

TME  Tencent Music Entertainment Group

Tencent Music Entertainment Group operates an online music entertainment platform that provides online music and music-centric social entertainment services in China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover and listen to music in personalized ways; and WeSing, which enables users to have fun by singing and interacting with friends, sharing their singing performances with friends, and discovering songs that others have sung. The company also operates Kugou Live and Kuwo Live that provides an interactive online stage for performers and users to showcase their talent and engage with those interested in their performance. In addition, it sells music-related merchandise, including Kugou M1 headsets, smart speakers, WeSing karaoke microphones, and Hi-Fi systems; and offers online music event ticketing services, as well as services to smart device and automobile makers to build and operate music services on devices and vehicles. The company was formerly known as China Music Corporation. The company was incorporated in 2012 and is based in Shenzhen, Chiane. Tencent Music Entertainment Group is a subsidiary of Tencent Holdings Limited.