Fly News Breaks for August 13, 2019
Aug 13, 2019 | 11:06 EDT
Goldman Sachs analyst Miang Chuen upgraded Momo.com to Buy from Neutral with a price target of NT$300, which represents 21% total return potential for the stock that trades on the Taiwan Stock Exchange The analyst sees Momo.com as the key beneficiary of "high" business-to-consumer e-commerce growth in Taiwan. The pace of offline-to-online retail migration remains strong and industry dynamics improve with less price competition and free shipping, Chuen tells investors in a research note. Chuen, which sees an improving sector outlook, also recommends buying shares of Sea Limited (SE) with an unchanged price target of $43. Sea is the leading gaming and e-commerce player in Taiwan, says the analyst.
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