US Stocks Move | Tencent Music continues to rise over 1% pre-market; Citi expects last quarter's results to meet or slightly exceed expectations

Gelonghui, February 9th｜Tencent Music (TME.US), which closed up 2.57% last Friday (6th), continued to rise by 1.29% in pre-market trading today, reaching $16.55. According to reports, Citi released a report stating that it expects Tencent Music’s Q4 2025 results to be in line with or slightly exceed expectations, mainly due to stable subscription services and accelerated growth in non-subscription music revenue. Looking ahead to 2026, the bank believes that key focus points include the competitive landscape and potential threats from Douyin Soda Music, SVIP conversion rates and average revenue per user trends, online advertising revenue, music concert revenue updates, the latest status of Ximalaya, as well as gross margin and operating profit margin trends. The bank maintains a “Buy” rating on Tencent Music’s US shares, with a target price of $29.