External broker reports(aggregated public sources), Capital Securities Corp

Capital Securities

External broker reports(aggregated public sources)

Capital Securities Corp

Capital Securities provides clients with investment services covering diversified financial products. We have outstanding business performance amid intense competition in the domestic securities market. 

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Equity Bottom-Up

<p>Pricing in catalysts; recommend NEUTRAL. Given e-commerce penetration upside and higher market shares, momo.com may continue growing in FY22.. However, momo.com’s 3Q21 revenue missed our forecast. We revise down our FY21/FY22 revenue growth forecast. Additionally, we have concerns over higher labor/logistics costs. momo.com’s stock price already hit our prior TP, pricing in catalysts. Recommend NEUTRAL with TP of NTD1670 (80x FY22 PER).</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Pricing in catalysts; recommend NEUTRAL. Given e-commerce penetration upside and higher market shares, momo.com may continue growing in FY22.. However, momo.com’s 3Q21 revenue missed our forecast. We revise down our FY21/FY22 revenue growth forecast. Additionally, we have concerns over higher labor/logistics costs. momo.com’s stock price already hit our prior TP, pricing in catalysts. Recommend NEUTRAL with TP of NTD1670 (80x FY22 PER).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Taiwan

Momo.com Inc is an e-commerce services company. The Company offers TV shopping and Internet shopping services, including beauty products, clothing, leather goods and food shops.

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Momo.Com Inc (8454 TT)

momo.com (8454 TT, NEUTRAL, NTD1770)

Pricing in catalysts; recommend NEUTRAL. Given e-commerce penetration upside and higher market shares, momo.com may continue growing in FY22.....

Capital Securities

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