Why Tencent Holdings Stock Trounced the Market Today
A new analyst note catalyzed buying in the American Depositary Receipts (ADRs) of Tencent Holdings (OTC: TCEHY) on Wednesday. That security enjoyed a very pleasant price pop of more than 4% on the day following the note's publication, a rise that easily beat the S 500 index's 0.7% advance.
What helped was that the analyst in question works at a very high-profile bank. He's Alex Yao of JPMorgan Chase (NYSE: JPM), and he reiterated his overweight (read: buy) recommendation on Tencent. His price target for the company's Hong Kong-listed shares is 440 Hong Kong dollars, which converts to $56.21. That's well above the current price of the ADRs, which stands at $44.81 apiece.
Tencent, a sprawling tech company based in mainland China, is the world's largest video game publisher. It's also the company behind the immensely popular WeChat online ecosystem that marries a host of tech functionalities to fintech services. Finally, it controls the near-eponymous Tencent Music and is very active in the cloud computing sphere.
Source Fool.com
Tencent Holdings Ltd. Aktie
Wenige Einschätzungen bei Tencent Holdings Ltd. lassen noch kein klares Bild zu.
Obwohl das Kursziel von 40 € für Tencent Holdings Ltd. den aktuellen Kurs von 42.8 € unterschreitet, zeigt sich ein negatives Potenzial von -6.54%.
