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<Research>Nomura Lifts Tencent Music Entertainment (TME.US) TP to US$21.5, Keeps Rating at Buy
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TME-SW (01698.HK) (TME.US) reached a merger agreement with Ximalaya, which is in line with TME-SW's investment strategy to strengthen its content ecosystem, and potentially enhancing its content offering in the long-form audio area, according to Nomura's research report. Nomura raised its FY2026 revenue/ EPS forecasts for TME-SW by 20%/ 4% each, with rating kept at Buy, and lifted its target price for TME-SW's US stock from US$17.2 to US$21.5, corresponding to a FY2026 projected PE ratio of 22x and an estimated FY2025-FY2027 earnings CAGR of 22%. AAStocks Financial News Website: www.aastocks.com |
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