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Fly News Breaks for August 28, 2019
MOMO
Aug 28, 2019 | 07:01 EDT
Benchmark analyst Fawne Jiang reiterates a Buy rating on Momo with a $47 price target saying the company reported "solid" Q2 results with an "upbeat" revenue outlook for Q3. Despite a negative user impact during the quarter, Momo reported an upside surprise in its live video business, reflecting the company's "strong" product execution, operational improvements and proven monetizationmodel of its social user cases, Jiang tells investors in a research note.
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