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Fly News Breaks for January 17, 2018
YY
Jan 17, 2018 | 16:06 EDT
Nomura Instinet analyst Jialong Shi earlier today upgraded YY to Buy and raised his price target for the shares to $161 from $80. Since founder returned as CEO in mid-2017, YY's whole ecosystem has improved, Shi tells investors in a research note. The analyst believes Huya's monetization will drive continued margin expansion. He estimates the live game site's valuation could reach $3.2B in the speculated initial public offering.
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