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JPMorgan upgrades this Chinese social media platform

April 14, 2023
Source: cnbc.com cnbc.com
News Snapshot:
China's live streaming sector could return to growth this year after losing 2% in 2022, and shares of Hello Group can capitalize on that trend, according to JPMorgan. Analyst Daniel Chen upgraded the stock to overweight from neutral Friday. He also raised his price target on the stock to $13 per share from $5, implying there's 56% upside from Thursday's close. Chen said Hello Group is among the companies purely focused on streaming, adding the growth of some new initiatives as well as improved online sentiment could help the company's revenues grow in 2023. MOMO YTD mountain MOMO was a...
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