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<Research>Citi Downgrades WEIMOB INC (02013.HK) to Sell w/ TP $1.55
Recommend 45 Positive 75 Negative 54 |
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WEIMOB INC (02013.HK)'s 2H24 revenue and adjusted net loss missed the market consensus, mainly due to a drop in advertising rebate rates, Citi Research issued a research report saying. The Company believes this may be a one-off issue and will pass through to its customers this year. As a result, Citi Research lowered its 2025/ 2026 revenue forecasts for WEIMOB INC by 4%/ 1% each, and kept its target price at $1.55. In the past few months, the share price of WEIMOB INC rebounded due to the development of AI and TENCENT (00700.HK)'s promotion on WeChat e-commerce, but there is not yet any material benefits for WEIMOB INC's fundamentals. Hence, the broker downgraded the stock from Neutral to Sell. AAStocks Financial News |
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