DouYu price target lowered by 20c at Citi, here’s why

Citi lowered the firm’s price target on DouYu to 70c from 90c and keeps a Sell rating on the shares post the Q3 report. The analyst sees low visibility for 2024 sales given potential impact from the investigation on contract renewals. Citi cites a muted outlook on DouYu’s live streaming business and uncertainty brought by the investigation for the Sell rating.