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Fly News Breaks for January 13, 2020
SOGO
Jan 13, 2020 | 08:06 EDT
As previously reported, Jefferies analyst Thomas Chong upgraded Sogou to Buy from Hold with a price target of $5.72, up from $4.80. He estimates Sogou will hit the mid-point of revenue guidance at about $301M in the fourth quarter but also predicts better-than-expected margins, mainly due to lower-than-expected traffic acquisition costs. He expects Sogou's revenue growth to accelerate from total revenue growth in U.S. dollar terms of about 4% in the first half to 17% year-over-year in the second half of 2020, Chong noted.
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