HSBC cuts KUAISHOU-W (01024) TP to HK$68 X
21/11/2024 11:48
(Infocast News)    HSBC cut its TP to HK$68 (from HK$75) on TP to HK$68 (from HK$75) and maintained Buy rating.

KUAISHOU reported inline results at the topline and bottom line. Domestic business OPM fell qoq to 12%, while overseas losses narrowed 45% qoq. The company has repurchased HKD3.8bn shares YTD and still has HKD14.8bn left in its buyback program that will expire on Jun 2027. As of end 3Q24, Kuaishou had RMB86bn cash on hand. (WL)

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