Hello Group Likely Face Continued Operational Adjustment, Macro Headwinds -- Market Talk

Dow Jones09-04

0907 GMT - Hello Group likely faces strategy shifts and macro headwinds in the near term, Citi analysts Brian Gong and Alicia Yap say in a research note. Despite decent overseas momentum, domestic economic challenges may continued to weigh on the Chinese social-media company, Citi says. They add that business strategy adjustments, including focusing on social features for both Momo and Tantan, the company's two core social-media businesses, rather than revenue-oriented events, is likely to continue in 2H, citing management's remarks. However, Citi thinks decent share buyback pace and a potential special dividend for end-2024 could support Hello Group's share price, despite a persistently weak revenue performance. Citi raises its target price on the ADRs to $5.90 from $5.70 and maintain a neutral/high risk rating. The stock last traded at $6.39. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

September 04, 2024 05:07 ET (09:07 GMT)

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They add that business strategy adjustments, including focusing on social features for both Momo and Tantan, the company's two core social-media businesses, rather than revenue-oriented events, is likely to continue in 2H, citing management's remarks. However, Citi thinks decent share buyback pace and a potential special dividend for end-2024 could support Hello Group's share price, despite a persistently weak revenue performance. Citi raises its target price on the ADRs to $5.90 from $5.70 and maintain a neutral/high risk rating. The stock last traded at $6.39. 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Despite decent overseas momentum, domestic ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4588","symbol_name":"碎股","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2464325848","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2464325848","pubTimestamp":1725440820,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0907 GMT - Hello Group likely faces strategy shifts and macro headwinds in the near term, Citi analysts Brian Gong and Alicia Yap say in a research note. 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