Tencent Music vs. Cheap Stocks

This is a China news story, published by Yahoo Finance (Canada), that relates primarily to David Tepper news.

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Tencent Music Entertainment Group (TME): A Cheap Internet Stock to Invest In Now

Summary

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79% Informative

Recently, China ’s stock market has seen a sharp rally driven by aggressive measures by the government to revive the economy.

The CSI 300 index closed 4.5% higher after the announcement whereas the Hong Kong Index gained 3.6% .

David Tepper , Appaloosa Management founder and president and Carolina Panthers owner joined CNBC for an interview recently to talk about the global impact of the Chinese stimulus.

Tepper believes that China has exceeded expectations with the recent move.

The investment case for Tencent Music Entertainment Group ( NYSE :TME) remains positive due to its robust fundamentals.

The company has grown its top line by 5% and bottom line by 23% during the past 5 years .

TME is cheap at current levels, it is trading at 16.67 times its forward earnings.

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English

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