Hello Group price target raised to $7 from $5.80 at Citi

Citi analyst Brian Gong raised the firm’s price target on Hello Group to $7 from $5.80 and keeps a Neutral rating on the shares. The company’s "decent" Q4 earnings were due to better than expected spending control, Gong tells investors in a research note. The analyst sees an improving sales outlook and decent cost optimization, but says the stock rally has largely factored in the positives.