China Renaissance analyst Yiwen Zhang upgraded Huya to Buy from Hold with a price target of $4.20, down from $4.30. With regulation tightening likely concluded in June and the easing of COVID-19 control, the analyst expects China’s game live streaming industry to resume earnings growth in 2023. Zhang favors Huya for its leadership position and the company returning to breakeven in 2023.
Published first on TheFly
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