0327 GMT - Kuaishou Technology is likely to report strong advertising revenue and user engagement for 4Q, UOB Kay Hian analysts say in a research note. Its share price catalysts include increased monetization rate in advertising and e-commerce, strong spring festival promotions backed by a favorable macro environment and share buyback, they note. Kuaishou's advertising take rate could improve to 4% in 2024 versus 3.6% in 2023, they say. UOB KH lowers Kuaishou's target to HK$85.00 from HK$97.00 on lower price/earnings multiples but maintains a buy call on optimism over its resilient growth momentum in e-commerce. Shares are up 2.0% at HK$43.20. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
January 23, 2024 22:27 ET (03:27 GMT)
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