Tencent Music Entertainment(TME.US) 4Q22 Preview: Raise TP for Gradual but Slow Recovery

We estimate that TME's 4Q22 topline/bottom line would be (2.5%)/3.8% vs cons., because of disturbance in its social entertainment and ads business. Reiterate SELL rating but raise TP to US$ 6.7.

Equity Bottom-Up

404 Views, 23 Jan 2023 09:31

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Tencent Music Entertainment(TME.US) 4Q22 Preview: Raise TP for Gradual but Slow Recovery
23 Jan 2023
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