PropertyGuru price target lowered to $6.40 from $7 at HSBC

HSBC lowered the firm’s price target on PropertyGuru to $6.40 from $7 and keeps a Buy rating on the shares. The company reduced fiscal 2024 sales guidance from 18%-25% to 9%-12% as Vietnam operations are not expected to recover this year, the analyst tells investors in a research note. However, the firm says improved monetization and better cost control are driving improvements in profitability and a path to positive margins.