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Morgan Stanley cut its price target on Tencent Music (TME.N) to $10.1 from $10.5 and maintained a market-weight rating. The bank said synergies from the Himalaya acquisition are uncertain and could be a swing factor amid a prolonged competitive and e

2026-08-12

Morgan Stanley cut its price target on Tencent Music (TME.N) to $10.1 from $10.5 and maintained a market-weight rating. The bank said synergies from the Himalaya acquisition are uncertain and could be a swing factor amid a prolonged competitive and earnings downgrade cycle. Accelerated share buybacks offer partial downside support but clearer visibility on competition is required. Morgan Stanley trimmed Tencent Music 2026–2028 EPS forecasts by 3–7% to reflect weaker subscription revenue. At current levels the stock trades at roughly 10x 2027E P/E and 6.6x ex-cash P/E; any valuation rerating depends on an improvement in the competitive landscape.

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2026-08-12

The EIA Short-Term Energy Outlook report projects U.S. crude oil consumption at 20.63 million barrels per day in 2026, down from a previous forecast of 20.7 million barrels per day.

The EIA Short-Term Energy Outlook report projects U.S. crude oil consumption at 20.63 million barrels per day in 2026, down from a previous forecast of 20.7 million barrels per day.
2026-08-12

US President Trump: Robert Gilman, a US citizen and former US Marine, is returning home.

US President Trump: Robert Gilman, a US citizen and former US Marine, is returning home.
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