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

Zacks Investment Research lowered shares of Tencent Holding Ltd. (OTCMKTS:TCEHY) 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 Games, Qzone,, 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. reaffirmed an overweight rating on shares of Tencent Holding in a research report on Thursday, September 1st.

Shares of Tencent Holding (OTCMKTS:TCEHY) opened at 28.06 on Wednesday. Tencent Holding has a 12-month low of $16.36 and a 12-month high of $28.24. The company has a 50-day moving average of $26.19 and a 200 day moving average of $22.69. The company has a market cap of $262.89 billion, a PE ratio of 51.30 and a beta of 1.25.

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