Tencent Music Shares Fall After JPMorgan, Benchmark Downgrades

MT Newswires Live

03/19

Tencent Music Entertainment Group (TME) shares were down over 10% late Wednesday after JPMorgan downgraded the stock to neutral from overweight and cut its price target to $12 from $30.

Separately, Benchmark also downgraded Tencent to hold from buy.

Trading volume stood at more than 29.6 million shares intraday, compared with a daily average of about 7.1 million.

Price: 10.15, Change: -1.22, Percent Change: -10.73

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