0912 GMT - Kuaishou Technology's losses for its overseas and local-service businesses are likely to further narrow, Daiwa analysts write in a note. The Chinese tech company aims to achieve breakeven for its overseas business by end-2024, thanks to growing advertising revenue and more controlled spending, they add. In terms of local services, the company is planning differentiated offerings based on user profiles, they note. Kuaishou is also set to expand its local-service business scale in the future, Daiwa says. The brokerage reaffirms its buy rating on with a target price of HK$68.00. Shares closed at HK$40.15. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
September 17, 2024 05:12 ET (09:12 GMT)
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