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.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on HUYA: