Kuaishou Technology （1024.HK） Lowering growth estimates but still favorable risk~reward； 2Q preview
Goldman Sachs·2024-08-12 08:02
8 August 2024 | 10:41PM HKT _ Kuaishou Technology (1024.HK) Lowering growth estimates but still favorable risk-reward; 2Q preview Buy 024.HK 1 HK$70.00 HK$43.85 59.6% Maintain Buy with revised TP of HK$70. Risk-reward continues to look favorable for Kuaishou after 30% drawdown from the May peak (vs. KWEB -16%, underperformed all other e-Com names: BABA/PDD/JD/VIPS), on multiples contraction following downward revision of annual GMV consensus despite consistent profit delivery. With this note, we revise our ...