0347 GMT - Weibo is likely to maintain its growth momentum into 4Q, says Deutsche Bank research analyst Leo Chiang in a commentary. The company delivered better-than-expected results, mainly due to strong advertising demand during the Paris Olympics, Chiang said. He expects computers, communications and consumer electronics verticals to outperform in 4Q, driven by the national subsidy programs. The analyst raises his revenue estimates for fiscal year 2024 and 2025 by 3% and 1%, respectively, reflecting strong 3Q results. DB maintains a hold rating, but raises its target price to HK$83.00 from HK$72.00. Shares are 2.6% lower at HK$74.40. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
December 04, 2024 22:47 ET (03:47 GMT)
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