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<Research>G Sachs: TME-SW (01698.HK) 2026 Growth Forecast Recalibrated; Rating Buy
Recommend 1 Positive 9 Negative 3 |
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The share price of TME-SW (01698.HK) plummeted after the announcement of its 4Q25 results, primarily due to market concerns over intensified music competition in 2026, the potential medium- to long-term disruptive risks of AI to music streaming platforms, and the management's relatively conservative outlook on recent subscription revenue, Goldman Sachs said. Goldman Sachs organized the major market concerns and its views on the Company post-results, including: 1) the need to recalibrate growth expectations for the subscription business amid intensified competition; 2) discussions in the market about the potential impact of AI music on the entire music industry's value; 3) still stable profit margins despite the slowdown in subscription user growth. Therefore, the broker rated TME-SW at Buy, with 12-month target prices for TME-SW's H-shares/ US stock of $69/ US$17.6. AASTOCKS Financial News Website: www.aastocks.com |
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