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Fly News Breaks for August 5, 2019
Aug 5, 2019 | 07:56 EDT
Jefferies analyst Thomas Chong initiated YY with a Buy rating and $76.10 price target, noting that it is one of the few internet companies in China stepping up overseas expansion in 2019, which he views as a positive for long-term growth. He also notes that YY's product portfolio has "a huge user base" of over 400M users with solid growth across different applications.