Momo Likely to Have Better Profitability Next Two Years -- Market Talk

Dow Jones

2024-12-18

0249 GMT - Momo is likely to have better profitability in the next two years, according to Deutsche Bank research analyst Leo Chiang in a commentary. Legacy businesses, which include social media app Momo and Tantan, remain under pressure due to continuous business adjustments, the analyst says. However, looking at 4Q and onward, the analyst expects new apps to gain traction driven by rapid overseas expansion. DB raises adjusted net profit forecasts for fiscal year 2024 and 2025 by 17% and 3%, respectively, to reflect the better 3Q results. The analyst keeps a buy rating, and raises the ADRs target price to $10.00 from $9.00. The ADRs last traded at $7.56. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

December 17, 2024 21:49 ET (02:49 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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