Shares of Tencent Music Entertainment Group (TME) plummeted over 5% on Monday, following a research report from Morgan Stanley that highlighted various challenges facing China's economy and expressed a cautious view on the music streaming company.
In the report, Morgan Stanley maintained an "Equalweight" rating on TME, indicating a neutral stance on the stock. The research firm cited concerns about China's debt levels, demographic shifts, and potential deflationary pressures, which could weigh on consumer confidence and corporate earnings in the near future.
While Morgan Stanley considered overall valuations in China's internet sector reasonable, the report expressed uncertainty about the potential upside to 2H24-2025 earnings forecasts for certain segments, including those in which TME operates. The broker highlighted the time it may take for supportive policies to translate into a meaningful recovery in consumer and corporate spending.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。