Morgan Stanley: Raises Tencent Music's target price by 12.2% to $16.5

GoldenOctober2024

2025-05-14 02:38:47

Jin10 data reported on May 14 that Morgan Stanley released a report raising the target price for Tencent Music (TME.N) from $14.7, an increase of 12.2% to $16.5, maintaining an “overweight” investment rating. Morgan Stanley explained that the target price increase for Tencent Music is based on considering the market value of Tencent Music’s long-term strategic investments with a 30% discount (in line with the bank’s strategy on Tencent), including a 2% stake in Spotify, a 2% stake in UMG, and a 0.8% stake in Warner Music Group. These equate to a value of $2 per American Depositary Share (ADS). Tencent Music’s affiliate (consortium) allocated shares of UMG to Tencent Music in 2019, with the first quarter of 2025 being the triggering factor for this change.

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GateUser-e7d524c9

· 2025-05-14 02:55

Jin10 Data reported on May 14 that Morgan Stanley published a report raising the target price of Tencent Music (TME.N) from $14.70, up 12.2% to $16.50, maintaining an "overweight" investment rating. Morgan Stanley explained that the increase in the target price for Tencent Music is based on considering the market value of Tencent Music's long-term strategic investments with a 30% discount (in line with the firm's strategy in Tencent), including a 2% stake in Spotify, a 2% stake in UMG, and a 0.8% stake in Warner Music Group. These are equivalent to a value of $2 per American Depositary Share (ADS). Tencent Music's affiliate (consortium) allocated shares of UMG to Tencent Music in 2019, with the first quarter of 2025 being the trigger for this change.

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