UBS: Maintain Kuaishou-W “Buy” rating, target price raised to HK$104

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UBS released a research report saying that it maintained the Kuaishou-W “buy” rating and raised the target price from HK$95 to HK$104. Driven by the growth of e-commerce and advertising market share and good cost control execution, Kuaishou’s fundamentals will exceed its peers, and its valuation is reasonable. According to the report, Kuaishou e-commerce GMV has potential upside potential, and the growth rate of e-commerce business after the 616 shopping festival has accelerated, mainly driven by the rapid growth of new brand merchants and own brands, as well as active buyers. The bank raised its second-quarter and full-year GMV growth forecast to 26%/33% from 24%/31%. (Sina Finance)
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