Benchmark analyst Fawne Jiang lowered the firm’s price target on Joyy to $49 from $62 and keeps a Buy rating on the shares. The company reported "moderately above-expectation" Q4 results, but visibility remains low for FY23 so the firm has "decided to take a conservative approach" in adjusting its estimates, the analyst tells investors in a post-earnings research note.
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Published first on TheFly
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Read More on YY:
- Joyy price target lowered to $42 from $48 at CLSA
- Joyy reports Q4 revenue $604.9M, consensus $601.65M
- JOYY Reports Fourth Quarter and Full Year 2022 Unaudited Financial Results
- Joyy reports Q4 adjusted earnings per ADS 65c, consensus 24c
- JOYY to Announce Fourth Quarter and Full Year 2022 Financial Results on March 15, 2023