• Bernstein upgraded Tencent Music Entertainment Group (NYSE:TME) to an Outperform rating and raised its price target from $25 to $27.50.
• Tencent Music exceeded its second-quarter revenue estimates, driven by substantial growth in subscribers and engagement with long-form audio content.
• The stock price of TME reflects positive momentum, currently at $25.39, an 11.85% increase and the highest price in over a year at $25.98.

Tencent Music Entertainment Group (NYSE:TME) stands out as a leading online music entertainment platform in China. It offers diverse services, including music streaming, online karaoke, and live streaming, competing against major players like Spotify and Apple Music. On August 12, 2025, Bernstein upgraded Tencent Music to an Outperform rating, showcasing confidence in the company’s future growth. At the time, TME was priced at $25.39. Bernstein also raised its price target for the stock from $25 to $27.50, indicating significant room for growth.

The latest financial performance backs Bernstein’s optimistic perspective. Tencent Music exceeded its Q2 revenue estimates, fueled by robust subscriber growth. They saw increased interactions with long-form audio content, such as podcasts and audiobooks, further supporting this momentum.

Currently, TME’s stock price reflects this positive trend, standing at $25.39, showing an increase of 11.85% or $2.69. The stock witnessed fluctuations today, hitting a low of $24.22 and a high of $25.98, the latter marking its peak price in the past year. Over the last year, TME’s lowest price was $9.41.

Tencent Music holds a market capitalization of approximately $38.14 billion, illustrating its strong market presence. The trading volume for TME today reached 14.87 million shares, reflecting substantial investor interest. This impressive performance and engagement align well with Bernstein’s upgraded rating and revised price target.