Information Provided By:
Fly News Breaks for February 19, 2020
TME
Feb 19, 2020 | 08:08 EDT
As previously reported, Oppenheimer analyst Bo Pei downgraded Tencent Music to Perform from Outperform as shares are likely to be range-bound on uncertain live streaming regulations and increasing competition with short video platforms. The analyst expects in-line Q4 results but is lowering 2020 estimates. Tencent Music is expected to cease master licensing agreement with one of the Big Three labels, which should further weigh on its sublicensing revenue and content cost savings likely offset by higher live streaming costs, he contends. Although Pei believes its music subscription business will continue to perform well, he sees meaningful negative estimate revisions for Live Streaming and Sublicensing over the next earnings cycle and suggests investors wait for a better entry point.
News For TME From the Last 2 Days
There are no results for your query TME