Tencent Holding Ltd. (TCEHY) Cut to Hold at Zacks Investment Research

Tencent Holding Ltd. (OTCMKTS:TCEHY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Tencent Holdings Limited is an Internet service portal. Tencent provides value-added Internet, mobile and telecom services and online advertising. Tencent’s leading Internet platforms in China are QQ Instant Messenger, QQ.com, QQ Games, Qzone, 3g.QQ.com, SoSo, PaiPai and Tenpay. It has brought together China’s largest Internet community, to meet the various needs of Internet users including communication, information, entertainment, e-commerce and others. Tencent Holdings Limited is headquartered in Shenzhen, the People’s Republic of China. “

Separately, JPMorgan Chase & Co. reissued an “overweight” rating on shares of Tencent Holding in a research note on Thursday, September 1st.

Shares of Tencent Holding (OTCMKTS:TCEHY) opened at 27.32 on Wednesday. The company’s 50-day moving average is $27.33 and its 200 day moving average is $23.64. The stock has a market capitalization of $255.96 billion, a P/E ratio of 50.04 and a beta of 1.16. Tencent Holding has a 12 month low of $16.76 and a 12 month high of $28.24.

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