Editor/Futu News Zoe
Futu News reported on April 12 that Bank of America Securities published a report stating, quoting$Kuaishou-W (01024.HK) $Management indicated that they are confident in the growth of e-commerce and online advertising businesses, but they are more conservative about the prospects of the live streaming business, mainly because it is expected that regulation will continue to influence the development and monetization capacity of the industry. Meanwhile, the company's target e-commerce product transaction amount will reach more than 700 billion yuan this year.
The bank raised its 2021-2023 sales forecast by 0.4% to 3.8%, but it expects the live streaming business to offset the growth of e-commerce and advertising business, and downgraded its earnings per share forecast. The target price dropped from HK$372 to HK$353, reaffirming its “buy” rating.
As of press release, Kuaishou fell nearly 4% to HK$265.4, leaving 33% room for an increase from Bank of America's target price.