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Analysts Offer Insights on Communication Services Companies: Tencent Music Entertainment Group (TME), Spotify Technology SA (SPOT) and Altice Usa (ATUS)

There’s a lot to be optimistic about in the Communication Services sector as 3 analysts just weighed in on Tencent Music Entertainment Group (TMEResearch Report), Spotify Technology SA (SPOTResearch Report) and Altice Usa (ATUSResearch Report) with bullish sentiments.

Tencent Music Entertainment Group (TME)

Benchmark Co. analyst Fawne Jiang maintained a Buy rating on Tencent Music Entertainment Group today and set a price target of $14.00. The company’s shares closed last Tuesday at $11.04, close to its 52-week high of $11.32.

According to TipRanks.com, Jiang is a 5-star analyst with an average return of 14.5% and a 52.3% success rate. Jiang covers the NA sector, focusing on stocks such as PropertyGuru Group, Hello Group, and AutoHome.

Currently, the analyst consensus on Tencent Music Entertainment Group is a Strong Buy with an average price target of $11.80, an 11.5% upside from current levels. In a report released today, Citi also upgraded the stock to Buy with a $13.00 price target.

See today’s best-performing stocks on TipRanks >>

Spotify Technology SA (SPOT)

Bank of America Securities analyst Jessica Reif Ehrlich reiterated a Buy rating on Spotify Technology SA today and set a price target of $315.00. The company’s shares closed last Tuesday at $252.76, close to its 52-week high of $272.44.

According to TipRanks.com, Ehrlich is a 4-star analyst with an average return of 5.7% and a 53.5% success rate. Ehrlich covers the NA sector, focusing on stocks such as Endeavor Group Holdings Inc, Paramount Global Class B, and Charter Communications.

Spotify Technology SA has an analyst consensus of Moderate Buy, with a price target consensus of $269.85.

Altice Usa (ATUS)

In a report released today, Matthew Harrigan from Benchmark Co. maintained a Buy rating on Altice Usa, with a price target of $5.00. The company’s shares closed last Tuesday at $2.61.

According to TipRanks.com, Harrigan is a 1-star analyst with an average return of -2.0% and a 51.2% success rate. Harrigan covers the NA sector, focusing on stocks such as Liberty Media Liberty SiriusXM, Live Nation Entertainment, and Charter Communications.

Currently, the analyst consensus on Altice Usa is a Hold with an average price target of $4.26.

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