Glonghui, April 17 | Morgan Stanley published a research report. It is expected that Tencent Music's stock price will rise in the next 60 days. The probability of occurrence is 70% to 80%, and the target price for US stocks is 13.5 US dollars. Tencent Music will announce its first-quarter results next month. Damo expects the company's performance to improve. Driven by Lunar New Year promotions, the net increase in the number of users in the music business will reach a new high, but this was partly offset by a slight loss of users in March. According to the bank, stronger net growth in music business users means that the growth prospects for music revenue in the first quarter are positive. Currently, it is predicted that revenue from this business will increase by 41% year on year, while ARPPU is expected to remain flat on a quarterly basis, and it is believed that growth will not resume until the second quarter. Damo currently predicts that Tencent Music's net profit will increase by 17% and 29% this year and next two years. It is hoped that the potential increase in return on capital will support the stock price, giving it an “increase in wealth” rating.