Citi analyst Alicia Yap lowered the firm’s price target on Tencent Music (TME) to $14.50 from $15 and keeps a Buy rating on the shares. The Q3 report came in “relatively in-line with expectations overall,” but net adds of 2M came in at the high-end of guidance and slightly better than the firm’s assumption, the analyst tells investors in a Q3 recap note. The firm views share price weakness post the results as “an enhanced buying opportunity,” the analyst added.
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