＜Research＞BOCI Cuts KUAISHOU-W (01024.HK) TP to $60, Rating Buy

　　BOCI released a research report expecting KUAISHOU-W (01024.HK) +1.000 (+2.235%) Short selling $119.29M; Ratio 16.722% to release its 2Q24 results at the end of August. The report forecasted its total revenue for 2Q24 to grow 9% YoY, with the 3 core businesses, naming online advertising revenue, e-commerce GMV and live stream revenue, expected to rise +22%/ +21%/ -14% YoY, respectively.

　　The application of AI in multi-scenario business and the progress of commercialization of the Company's new business will bring new growth momentum, depending on the Company's strategy and team execution, according to BOCI.

　　Related NewsCiti Initiates KUAISHOU-W (01024.HK) at Buy with $69 TP

　　Therefore, BOCI kept rating at Buy, but cut its target price to $60, based on an adjusted PE ratio forecast of 13x for 2024, which corresponds to a PE growth rate of 0.4x for 2024.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-08 12:25.)