Tencent (OTCMKTS:TCEHY) Rating Lowered to Hold at Zacks Investment Research – MarketBeat

Tencent (OTCMKTS:TCEHY) Rating Lowered to Hold at Zacks Investment Research – MarketBeat

Tencent (OTCMKTS:TCEHY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Tencent Holdings Limited is an Internet service portal. Tencent provides value-added Internet, mobile and telecom services and online advertising. Tencent’s leading Internet platforms in China are QQ Instant Messenger, QQ.com, QQ Games, Qzone, 3g.QQ.com, SoSo, PaiPai and Tenpay. It has brought together China’s largest Internet community, to meet the various needs of Internet users including communication, information, entertainment, e-commerce and others. Tencent Holdings Limited is headquartered in Shenzhen, the People’s Republic of China. “

Other analysts also recently issued research reports about the stock. Barclays raised their price target on shares of Tencent from $81.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, November 16th. OTR Global raised shares of Tencent to a “positive” rating in a research report on Wednesday, October 14th. Atlantic Securities started coverage on shares of Tencent in a research report on Monday, October 19th. They set an “overweight” rating for the company. Finally, Mizuho increased their price objective on shares of Tencent from $64.48 to $77.38 and gave the stock a “neutral” rating in a research report on Friday, November 13th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Tencent presently has a consensus rating of “Buy” and
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