Goldman Sachs: Raises target price of Tencent Music Entertainment Group (01698) to 82 Hong Kong dollars, reiterates "buy" rating.

According to the Chinese financial news app, Goldman Sachs released a research report stating that the target price for Tencent Music-SW (01698, TME.US) in the Hong Kong stock market has been raised from 60.4 Hong Kong dollars to 82 Hong Kong dollars. The target price for the US stock market has also been raised from 15.5 US dollars to 21 US dollars, with a reiteration of a "buy" rating. Revenue forecasts for 2025-2027 have been adjusted upward by 0.5-3.9%, with non-GAAP net profit forecasts adjusted upward by 0-4%.