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<Research>CMBI Cuts KUAISHOU-W (01024.HK) TP to $85.6; Quarterly Results in Line
Recommend 14 Positive 20 Negative 5 |
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According to a CMBI report, KUAISHOU-W (01024.HK)'s 3Q24 total revenue grew by 11% YoY to RMB31.1 billion, aligning with the market consensus of RMB31 billion, while its adjusted net profit surged by 24% to RMB3.95 billion, meeting expectations. As user engagement continued to improve, the average daily active users (DAUs) during the quarter rose by 5% YoY to 408 million, achieving the company's mid-term target of 400 million DAUs. In light of KUAISHOU-W's increased investment in key growth areas such as e-commerce, short videos, and AI, the broker lowered its 2025-2026 profit forecasts for the company by 5-8% and the target price from $92 to $85.6, while maintaining a Buy rating unchanged. AAStocks Financial News |
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