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Tencent Music Entertainment Group (TME) Stock Forecast, Price Target & Predictions

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TME Stock Forecast

Tencent Music Entertainment Group stock forecast is as follows: an average price target of $13.67 (represents a 14.39% upside from TME’s last price of $11.95) and a rating consensus of 'Buy', based on 13 wall street analysts offering a 1-year stock forecast.

TME Price Target

The average price target for Tencent Music Entertainment Group (TME) is $13.67 based on 1-year price targets from 13 Wall Street analysts in the past 3 months, with a price target range of $16.00 to $12.00. This represents a potential 14.39% upside from TME's last price of $11.95.

TME Analyst Ratings

Buy

According to 13 Wall Street analysts, Tencent Music Entertainment Group's rating consensus is 'Buy'. The analyst rating breakdown for TME stock is 0 'Strong Buy' (0.00%), 10 'Buy' (76.92%), 3 'Hold' (23.08%), 0 'Sell' (0.00%), and 0 'Strong Sell' (0.00%).

Tencent Music Entertainment Group Price Target by Analyst

DateAnalystCompanyPrice TargetPrice when PublishedPrice Target/Price when PublishedPrice Target/Last Closing Price
Nov 06, 2024Jiong ShaoBarclays$16.00$11.7436.23%33.89%
Nov 04, 2024Boris VanBernstein$14.00$11.2624.33%17.15%
Sep 25, 2024Yang LiuMorgan Stanley$13.00$11.2715.35%8.79%
Aug 14, 2024Lei ZhangBank of America Securities$15.00$11.1234.89%25.52%
Aug 14, 2024Charlie Chai86Research$12.00$11.137.82%0.42%
Aug 13, 2024Candis ChanDaiwa$12.00$11.137.77%0.42%
May 14, 2024Ahmad HalimCFRA$17.00$14.6216.32%42.26%
May 14, 2024Wei FangMizuho Securities$17.00$14.8014.86%42.26%
May 10, 2024Wei FangMizuho Securities$15.00$13.3812.11%25.52%
Mar 20, 2024Lincoln KongGoldman Sachs$14.00$11.5321.42%17.15%
Mar 20, 2024Alicia YapCitigroup$12.30$11.526.82%2.93%
Mar 20, 2024Charlene LiuHSBC$10.40$11.69-11.04%-12.97%
Mar 19, 2024Wei FangMizuho Securities$13.00$11.0417.75%8.79%
Jan 24, 2024Kenneth FongUBS$10.50$8.9417.45%-12.13%
Jan 10, 2024Ellie JiangMacquarie$11.00$9.0421.68%-7.95%
May 17, 2023Wei FangMizuho Securities$11.00$8.3531.82%-7.95%
Jan 09, 2023Ronald KeungGoldman Sachs$8.00$8.74-8.47%-33.05%
Nov 06, 2022Lincoln KongGoldman Sachs$4.40$3.9710.83%-63.18%
Aug 18, 2021Leo ChiangDeutsche Bank$9.00$7.8015.38%-24.69%
Aug 17, 2021Ellie JiangMacquarie$5.10$7.82-34.78%-57.32%
Aug 17, 2021Binnie WongHSBC$8.00$7.822.30%-33.05%
Aug 17, 2021Thomas ChongJefferies$16.00$7.82104.60%33.89%
Jul 26, 2021Bo Pei CFAUS Tiger Securities$24.00$10.46129.45%100.84%
May 20, 2021Ivy JiCredit Suisse$17.00$15.2111.77%42.26%
May 18, 2021Connie GuBOCOM International Holdings Company$23.00$14.8554.88%92.47%

The latest Tencent Music Entertainment Group stock forecast, released on Nov 06, 2024 by Jiong Shao from Barclays, set a price target of $16.00, which represents a 36.23% increase from the stock price at the time of the forecast ($11.74), and a 33.89% increase from TME last price ($11.95).

Tencent Music Entertainment Group Price Target by Period

1M3M12M
# Anlaysts-315
Avg Price Target-$14.33$13.48
Last Closing Price$11.95$11.95$11.95
Upside/Downside-100.00%19.92%12.80%

In the current month, the average price target of Tencent Music Entertainment Group stock is -, according to 0 Wall Street analyst offering twelve months forecast. The average price target represents a -100.00% decrease as opposed to Tencent Music Entertainment Group's last price of $11.95. This month's average price target is down -100.00% compared to last quarter, and down -100.00% compared to last year.

Analyst Ratings Upgrades/Downgrades

DateCompanyPrevious RatingNew RatingRating Change
Nov 29, 2024BernsteinOutperformOutperformHold
Nov 12, 2024CitigroupBuyBuyHold
Nov 06, 2024BarclaysOverweightInitialise
Nov 04, 2024BernsteinOutperformInitialise
Oct 07, 2024MacquarieOutperformOutperformHold
Sep 25, 2024Morgan StanleyOverweightEqual-WeightDowngrade
Aug 14, 2024Bank of America SecuritiesBuyBuyHold
Aug 13, 2024DaiwaNeutralDowngrade
May 14, 2024CFRABuyBuyHold
May 14, 2024Mizuho SecuritiesBuyBuyHold
May 14, 2024BenchmarkBuyBuyHold
Apr 03, 2024Bank of America SecuritiesBuyBuyHold
Mar 20, 2024Mizuho SecuritiesBuyBuyHold
Mar 20, 2024Goldman SachsSellBuyUpgrade
Jan 10, 2024MacquarieNeutralOutperformUpgrade
Aug 16, 2023CitigroupNeutralNeutralHold
Jul 20, 2023HSBCHoldHoldHold
May 17, 2023MacquarieNeutralUpgrade
Dec 01, 2022Morgan StanleyOverweightUpgrade
Nov 16, 2022BenchmarkBuyUpgrade
Nov 06, 2022Goldman SachsSellSellHold
Feb 18, 2022Goldman SachsNeutralSellDowngrade
Mar 27, 2021Goldman SachsBuyNeutralDowngrade
Mar 25, 2021Goldman SachsBuyDowngrade
Dec 30, 2020OppenheimerBuyBuyHold

Tencent Music Entertainment Group's last stock rating was published by Bernstein on Nov 29, 2024. The company gave TME a "Outperform" rating, the same as its previous rate.

Tencent Music Entertainment Group Financial Forecast

Tencent Music Entertainment Group Revenue Forecast

Dec 26Sep 26Jun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20Dec 19Sep 19
Revenue---------------$7.00B$7.42B$7.37B$6.91B$6.64B$7.61B$7.80B$8.01B$7.82B$8.34B$7.58B$6.93B$6.31B$7.29B$6.51B
Avg Forecast$9.08B$8.78B$8.69B$8.05B$7.93B$7.68B$7.57B$7.10B$7.16B$7.00B$7.15B$6.57B$6.69B$6.34B$7.29B$6.89B$7.29B$7.10B$6.68B$6.64B$7.63B$7.83B$8.10B$7.74B$8.31B$7.46B$6.84B$6.37B$7.11B$6.43B
High Forecast$9.20B$8.90B$8.80B$8.16B$8.04B$7.79B$7.67B$7.31B$7.23B$7.09B$7.24B$6.66B$6.76B$6.42B$7.39B$6.98B$7.38B$7.10B$6.68B$6.64B$7.63B$7.83B$8.10B$7.74B$8.31B$7.46B$6.84B$6.37B$7.11B$6.43B
Low Forecast$9.00B$8.70B$8.61B$7.98B$7.86B$7.61B$7.50B$6.92B$7.09B$6.94B$7.08B$6.51B$6.62B$6.28B$7.23B$6.82B$7.22B$7.10B$6.68B$6.64B$7.63B$7.83B$8.10B$7.74B$8.31B$7.46B$6.84B$6.37B$7.11B$6.43B
# Analysts111111138464846453536464646453
Surprise %---------------1.02%1.02%1.04%1.03%1.00%1.00%1.00%0.99%1.01%1.00%1.02%1.01%0.99%1.03%1.01%

Tencent Music Entertainment Group's average Quarter revenue forecast for Jun 23 based on 6 analysts is $7.29B, with a low forecast of $7.23B, and a high forecast of $7.39B. TME's average Quarter revenue forecast represents a 4.10% increase compared to the company's last Quarter revenue of $7.00B (Mar 23).

Tencent Music Entertainment Group EBITDA Forecast

Dec 26Sep 26Jun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20Dec 19Sep 19
# Analysts111111138464846453536464646453
EBITDA---------------$1.40B$1.40B$1.27B$887.00M$769.00M$642.00M$872.00M$969.00M$1.08B$1.29B$1.29B$1.09B$1.04B$1.20B$1.19B
Avg Forecast$1.82B$1.76B$1.74B$1.62B$1.59B$1.54B$1.52B$1.43B$1.44B$1.41B$1.44B$1.32B$1.34B$1.27B$1.46B$1.38B$1.46B$1.25B$1.18B$1.17B$1.34B$1.38B$1.43B$808.07M$1.46B$1.31B$1.20B$987.62M$1.25B$1.13B
High Forecast$1.85B$1.79B$1.77B$1.64B$1.62B$1.56B$1.54B$1.47B$1.45B$1.42B$1.45B$1.34B$1.36B$1.29B$1.48B$1.40B$1.48B$1.25B$1.18B$1.17B$1.34B$1.38B$1.43B$969.69M$1.46B$1.31B$1.20B$1.19B$1.25B$1.13B
Low Forecast$1.81B$1.75B$1.73B$1.60B$1.58B$1.53B$1.51B$1.39B$1.43B$1.39B$1.42B$1.31B$1.33B$1.26B$1.45B$1.37B$1.45B$1.25B$1.18B$1.17B$1.34B$1.38B$1.43B$646.46M$1.46B$1.31B$1.20B$790.10M$1.25B$1.13B
Surprise %---------------1.01%0.96%1.01%0.75%0.66%0.48%0.63%0.68%1.34%0.88%0.98%0.91%1.05%0.96%1.05%

6 analysts predict TME's average Quarter EBITDA for Jun 23 to be $1.46B, with a high of $1.48B and a low of $1.45B. This is 4.56% upper than Tencent Music Entertainment Group's previous annual EBITDA (Mar 23) of $1.40B.

Tencent Music Entertainment Group Net Income Forecast

Dec 26Sep 26Jun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20Dec 19Sep 19
# Analysts111111138464846453536464646453
Net Income---------------$1.15B$1.15B$1.06B$856.00M$609.00M$577.00M$740.00M$827.00M$926.00M$1.20B$1.13B$939.00M$887.00M$1.04B$1.03B
Avg Forecast$2.62B$2.44B$2.44B$2.22B$2.22B$2.13B$2.07B$1.95B$1.88B$1.76B$1.72B$1.47B$1.41B$1.24B$1.38B$1.10B$1.22B$950.17M$768.61M$716.83M$622.01M$646.73M$878.23M$690.29M$1.15B$1.01B$929.33M$844.76M$1.01B$921.00M
High Forecast$2.67B$2.49B$2.48B$2.25B$2.26B$2.17B$2.10B$2.05B$1.91B$1.79B$1.73B$1.47B$1.44B$1.25B$1.40B$1.12B$1.25B$950.17M$768.61M$716.83M$622.01M$646.73M$878.23M$828.35M$1.15B$1.01B$929.33M$1.01B$1.01B$921.00M
Low Forecast$2.59B$2.41B$2.41B$2.19B$2.20B$2.11B$2.04B$1.84B$1.78B$1.74B$1.71B$1.47B$1.40B$1.23B$1.36B$1.09B$1.21B$950.17M$768.61M$716.83M$622.01M$646.73M$878.23M$552.23M$1.15B$1.01B$929.33M$675.81M$1.01B$921.00M
Surprise %---------------1.04%0.94%1.12%1.11%0.85%0.93%1.14%0.94%1.34%1.04%1.12%1.01%1.05%1.03%1.11%

Tencent Music Entertainment Group's average Quarter net income forecast for Jun 23 is $1.38B, with a range of $1.36B to $1.40B. TME's average Quarter net income forecast represents a 20.02% increase compared to the company's last Quarter net income of $1.15B (Mar 23).

Tencent Music Entertainment Group SG&A Forecast

Dec 26Sep 26Jun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20Dec 19Sep 19
# Analysts111111138464846453536464646453
SG&A---------------$1.23B$1.36B$1.44B$1.42B$1.34B$1.82B$1.64B$1.68B$1.55B$1.68B$1.43B$1.30B$1.16B$1.42B$1.24B
Avg Forecast$1.76B$1.70B$1.68B$1.56B$1.54B$1.49B$1.47B$1.38B$1.39B$1.36B$1.38B$1.27B$1.30B$1.23B$1.41B$1.33B$1.41B$1.38B$1.29B$1.29B$1.48B$1.52B$1.57B$1.16B$1.61B$1.45B$1.32B$1.11B$1.38B$1.25B
High Forecast$1.78B$1.72B$1.71B$1.58B$1.56B$1.51B$1.49B$1.42B$1.40B$1.37B$1.40B$1.29B$1.31B$1.24B$1.43B$1.35B$1.43B$1.38B$1.29B$1.29B$1.48B$1.52B$1.57B$1.39B$1.61B$1.45B$1.32B$1.33B$1.38B$1.25B
Low Forecast$1.74B$1.69B$1.67B$1.55B$1.52B$1.48B$1.45B$1.34B$1.37B$1.34B$1.37B$1.26B$1.28B$1.22B$1.40B$1.32B$1.40B$1.38B$1.29B$1.29B$1.48B$1.52B$1.57B$927.35M$1.61B$1.45B$1.32B$885.33M$1.38B$1.25B
Surprise %---------------0.92%0.96%1.04%1.10%1.04%1.23%1.08%1.07%1.34%1.04%0.99%0.98%1.05%1.03%0.99%

Tencent Music Entertainment Group's average Quarter SG&A projection for Jun 23 is $1.41B, based on 6 Wall Street analysts, with a range of $1.40B to $1.43B. The forecast indicates a 14.94% rise compared to TME last annual SG&A of $1.23B (Mar 23).

Tencent Music Entertainment Group EPS Forecast

Dec 26Sep 26Jun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20Dec 19Sep 19
# Analysts111111138464846453536464646453
EPS---------------$0.74$0.74$0.66$0.54$0.38$0.35$0.44$0.50$0.56$0.36$0.68$0.57$0.54$0.62$0.62
Avg Forecast$1.67$1.56$1.55$1.41$1.42$1.36$1.32$1.24$1.20$1.12$1.10$0.94$0.90$0.79$0.88$0.70$0.78$0.61$0.49$0.46$0.40$0.41$0.56$0.63$0.73$0.64$0.59$0.58$0.64$0.59
High Forecast$1.70$1.59$1.58$1.44$1.44$1.38$1.34$1.31$1.22$1.14$1.11$0.94$0.92$0.80$0.89$0.71$0.79$0.61$0.49$0.46$0.40$0.41$0.56$0.63$0.73$0.64$0.59$0.58$0.64$0.59
Low Forecast$1.65$1.54$1.54$1.40$1.40$1.34$1.30$1.18$1.14$1.11$1.09$0.93$0.89$0.79$0.87$0.69$0.77$0.61$0.49$0.46$0.40$0.41$0.56$0.63$0.73$0.64$0.59$0.58$0.64$0.59
Surprise %---------------1.06%0.95%1.09%1.10%0.83%0.88%1.07%0.89%0.89%0.49%1.06%0.96%0.93%0.96%1.06%

According to 6 Wall Street analysts, Tencent Music Entertainment Group's projected average Quarter EPS for Jun 23 is $0.88, with a low estimate of $0.87 and a high estimate of $0.89. This represents a 18.79% increase compared to TME previous annual EPS of $0.74 (Mar 23).

Tencent Music Entertainment Group Peer Comparison by Price Target

TickerCompanyLast Closing PriceAvg Price TargetUpside/DownsideAvg Rating
PINSPinterest$31.00$43.7741.19%Buy
BIDUBaidu$90.18$115.0027.52%Buy
SNAPSnap$11.18$13.1217.35%Hold
TMETencent Music Entertainment Group$11.78$13.6716.04%Buy
ATHMAutohome$26.96$30.5013.13%Hold
YYJOYY$39.18$37.33-4.72%Buy
SPOTSpotify$474.37$429.86-9.38%Buy
TWLOTwilio$109.76$97.38-11.28%Buy
DOYUDouYu$11.78$10.25-12.99%Sell
YELPYelp$39.68$34.00-14.31%Buy
WBWeibo$10.46$8.90-14.91%Buy
MOMOHello Group$7.56$6.00-20.63%Hold

TME Forecast FAQ

Is Tencent Music Entertainment Group a good buy?

Yes, according to 13 Wall Street analysts, Tencent Music Entertainment Group (TME) is considered a 'Buy'. The rating consensus is based on 0 'Strong Buy' and 10 'Buy' recommendations, accounting for 76.92% of TME's total ratings.

What is TME's price target?

Tencent Music Entertainment Group (TME) average price target is $13.67 with a range of $12 to $16, implying a 14.39% from its last price of $11.95. The data is based on 13 Wall Street analysts who provided a twelve-month price target estimate in the last three months.

Will Tencent Music Entertainment Group stock go up soon?

According to Wall Street analysts' prediction for TME stock, the company can go up by 14.39% (from the last price of $11.95 to the average price target of $13.67), up by 33.89% based on the highest stock price target, and up by 0.42% based on the lowest stock price target.

Can Tencent Music Entertainment Group stock reach $20?

TME's average twelve months analyst stock price target of $13.67 does not support the claim that Tencent Music Entertainment Group can reach $20 in the near future.

What are Tencent Music Entertainment Group's analysts' financial forecasts?

Tencent Music Entertainment Group's analysts financial forecasts for the fiscal year (Dec 2025) are as follows: average revenue is $30.29B (high $30.81B, low $29.89B), average EBITDA is $6.08B (high $6.19B, low $6.01B), average net income is $8.37B (high $8.58B, low $8.19B), average SG&A $5.87B (high $5.97B, low $5.79B), and average EPS is $5.34 (high $5.48, low $5.23). TME's analysts financial forecasts for the fiscal year (Dec 2026) are as follows: average revenue is $34.6B (high $35.06B, low $34.29B), average EBITDA is $6.95B (high $7.04B, low $6.89B), average net income is $9.72B (high $9.89B, low $9.6B), average SG&A $6.7B (high $6.79B, low $6.64B), and average EPS is $6.2 (high $6.31, low $6.13).

Did the TME's actual financial results beat the analysts' financial forecasts?

Based on Tencent Music Entertainment Group's last annual report (Dec 2022), the company's revenue was $28.34B, beating the average analysts forecast of $27.71B by 2.27%. Apple's EBITDA was $4.48B, missing the average prediction of $5.06B by -11.43%. The company's net income was $3.68B, beating the average estimation of $3.66B by 0.45%. Apple's SG&A was $5.56B, beating the average forecast of $5.37B by 3.51%. Lastly, the company's EPS was $1.15, missing the average prediction of $2.33 by -50.71%. In terms of the last quarterly report (Mar 2023), Tencent Music Entertainment Group's revenue was $7B, beating the average analysts' forecast of $6.89B by 1.70%. The company's EBITDA was $1.4B, beating the average prediction of $1.38B by 1.25%. Tencent Music Entertainment Group's net income was $1.15B, beating the average estimation of $1.1B by 4.47%. The company's SG&A was $1.23B, missing the average forecast of $1.33B by -7.89%. Lastly, the company's EPS was $0.74, beating the average prediction of $0.701 by 5.55%