IQIYI (IQ US) - Short-Term Headwind Continues; Strategic Upgrades to Drive Long-Term Growth
iQiyi reported 3Q24 financial results: total revenue declined by 10% YoY to RMB7.2bn, in line with Bloomberg consensus and our estimate
230 Views
Palo Alto Networks (PANW US) - Platformization Strategy Resonating Well with Customers
We roll over our valuation period to 2025E, and raise our target price by 17% to US$464.4 based on an unchanged EV/sales multiple of 16.0x....
218 Views
Baidu (BIDU US) - Pace of Ads Rev Growth Recovery Key to Watch
We cut our SOTP-based TP by 7% to US$153.6 (was US$164.8) to reflect fine-tuned outlook on ads revenue growth recovery. Maintain BUY.
223 Views
Ke Holdings (BEKE US) - To Ride on the Policy Tailwind in 4Q
Beike reported (21 Nov) 3Q24 results: revenue increased 27% YoY to RMB22.6bn, 1.5%/4.7% below Bloomberg consensus/CMBI estimates
218 Views
PDD Holdings (PDD US) - Impact from Enhancement of Merchant Support Stared to Emerge
PDD Holdings (PDD) announced (21 Nov) 3Q24 results: revenue was up 44.3% YoY (3Q23: 93.9%; 2Q24: 85.7%) to RMB99.4bn, 3% shy of Bloomberg consensus...
236 Views