0820 GMT - Weibo may report strong 4Q earnings thanks to continued Chinese stimulus policies and a potential consumption recovery, Deutsche Bank analyst Leo Chiang writes in a note. The company delivered strong 3Q results due to strong ad demand during the Paris Olympics, Chiang says. Spending by food-and-beverage advertisers rose strongly on year in 3Q and was one of the major contributors of earnings growth for the quarter, Chiang adds. Deutsche Bank expects subsidy programs to further drive growth of consumer electronics in 4Q, which would help the company generate higher ad revenue. The bank maintains a buy rating on the stock and raises its target price to HK$83.00 from HK$72.00. Shares are last at HK$74.25. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
December 05, 2024 03:20 ET (08:20 GMT)
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