Citigroup Raises TENCENT HOLDING/ADR (OTCMKTS:TCEHY) Price Target to $649.00

TENCENT HOLDING/ADR (OTCMKTS:TCEHY) had its price target upped by equities researchers at Citigroup from $541.00 to $649.00 in a report released on Tuesday, The Fly reports. The brokerage presently has a “buy” rating on the technology company’s stock.

A number of other equities analysts also recently issued reports on TCEHY. Barclays raised their price target on TENCENT HOLDING/ADR from $55.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Zacks Investment Research raised TENCENT HOLDING/ADR from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Friday, May 22nd. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $256.67.

Shares of OTCMKTS TCEHY opened at $68.14 on Tuesday. The firm has a market cap of $672.50 billion, a P/E ratio of 47.99 and a beta of 0.92. TENCENT HOLDING/ADR has a twelve month low of $40.04 and a twelve month high of $72.90. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.42. The company has a 50 day moving average of $59.96 and a 200 day moving average of $52.84.

TENCENT HOLDING/ADR (OTCMKTS:TCEHY) last posted its earnings results on Wednesday, May 13th. The technology company reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.04. TENCENT HOLDING/ADR had a return on equity of 18.77% and a net margin of 23.78%. The business had revenue of $15.48 billion during the quarter, compared to analyst estimates of $14.20 billion. As a group, equities analysts expect that TENCENT HOLDING/ADR will post 1.57 earnings per share for the current fiscal year.

About TENCENT HOLDING/ADR

Tencent Holdings Limited, an investment holding company, provides Internet value-added services (VAS) and online advertising services in Mainland China, Hong Kong, North America, Europe, other Asian countries, and internationally. The company operates through VAS, Online Advertising, and Others segments.

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