＜Research＞BofAS: KUAISHOU-W (01024.HK) GMV Dented by Macro Environment; TP Trimmed to $71

　　KUAISHOU-W (01024.HK) -1.050 (-2.263%) Short selling $135.15M; Ratio 24.897% disclosed at an US investor meeting that its e-commerce business platform GMV was broadly on track, but a macro slowdown and competition during the “618” shopping festival affected the GMV trend for June, BofA Securities issued a research report saying.

　　2Q24 GMV YoY growth would be close to the 20% to 25% low range, down from the earlier estimation of 25%.

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　　BofA Securities kept rating at Buy for KUAISHOU-W, based on solid earnings growth, and trimmed its target price from $78 to $71, which is equivalent to a 2024 adjusted PE ratio forecast of 15x, on par with the industry.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-18 16:25.)

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