| 2018-11-21 08:06:46|
MOMO 08:06 11/21 11/21/18
Momo price target lowered to $40 from $50 at TH Data Capital
TH Data Capital analyst Tian Hou lowered his price target for Momo to $40 and keeps a Buy rating on the shares ahead of the company's Q3 results in late November. The analyst expects revenue to be in-line with consensus but points out Momo also needs to invest in Tantan. As such, he believes the company's margin is likely to be lower than Q2 and Q3 of last year. Given today's "economic, political and market situation," many Chinese companies are likely to be "more conservative in their business operation," Hou tells investors in a research note.