Citi analyst Brian Gong lowered the firm’s price target on Joyy to $45 from $46 and keeps a Buy rating on the shares. The analyst also opened a "30-day negative Catalyst Watch" on the shares into the Q4 report. Since Citi’s 2023 and 2024 earnings estimates are both lower than consensus, it expects potential downward revision pressure on consensus forecasts. The firm sees a likely miss in Q4.
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