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Fly News Breaks for August 14, 2018
HUYA, YY
Aug 14, 2018 | 08:23 EDT
Benchmark analyst Fawne Jiang maintained a Buy rating on YY (YY), but lowered her price target to $140 from $168 following the company's "solid" Q2 earnings report and Q3 revenue guidance that "slightly" trailed consensus estimates due to softness in YY Live. In a research note to investors, the analyst says that increased investments in Huya (HUYA), as well as a potential rise of content cost and S & M spending in YY Live, could weigh on margins in the coming quarters, and she views YY as a value play for longer-term oriented investors.
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