Intelligent Investor - Portfolio Trades (TME - BUY), page-7

Intelligent Investor have upgraded their BUY price to below $5.50 (previously $5.00) and a HOLD up to $8.00 (previously $7.50).

This is a reflection of continued growth and excellent cash flow.

They note the small competitive environment that TME operates in, however with listings growing by more than 15% in Q1 2017, TME remains a strong business and CAL18 should be another year of decent earnings growth, with TME's free cash flow yield higher today than it was when they first initiated coverage.

Both of the Intelligent Investor's Growth Portfolio and Equity Income Portfolio own shares in TME.