Quote | Super Quote
Super Quote   |   Detail Quote   |   Interactive Chart   |   Transaction   |   Related News   |   Related Securities   |   Company Information   |   Dividend Records   |   Short Sell
RTNominal up100.800 +5.900 (+6.217%)
Research Report

11/03/2021 16:40

{I-bank focus}Morgan starts Kuaishou (01024) at HK$350

[ET Net News Agency, 11 March 2021] Morgan Stanley initiated coverage on Kuaishou
Technology (01024) with an "overweight" rating and a target price of HK$350.
The research house forecasted Kuaishou to deliver a 40% revenue CAGR over 2020-23,
reaching Rmb163bn, on the back of "short-videolization", diversification of income
streams, and its large and sticky user base.
Morgan expects MAU (monthly active users) and DAU (daily active users) to reach 700mn
and 400mn by 2023, from 482mn and 265mn in 2020 respectively, bringing a transformation of
its revenue and profitability structure, similar to platform peers. This will drive
earnings and valuation multiple upsides.
It expects rising incremental ad revenue wallet share every year, hitting Rmb100bn in
2023 (66% CAGR from Rmb22bn in 2020), on par with Douyin's level in 2020, driven by a 15%
DAU CAGR (mainly via the Express app), doubling its ad load, and upgrading its ad
products, technology and sales team. (KL)

Remark: Real time quote last updated: 17/09/2021 17:59
  Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service
A Member of HKET Holdings
Customer Service Hotline:(852) 2880 7004     Customer Service Email:cs@etnet.com.hk
Copyright 2021 ET Net Limited. http://www.etnet.com.hk ET Net Limited, HKEx Information Services Limited, its Holding Companies and/or any Subsidiaries of such holding companies, and Third Party Information Providers endeavour to ensure the availability, completeness, timeliness, accuracy and reliability of the information provided but do not guarantee its availability, completeness, timeliness, accuracy or reliability and accept no liability (whether in tort or contract or otherwise) any loss or damage arising directly or indirectly from any inaccuracies, interruption, incompleteness, delay, omissions, or any decision made or action taken by you or any third party in reliance upon the information provided. The quotes, charts, commentaries and buy/sell ratings on this website should be used as references only with your own discretion. ET Net Limited is not soliciting any subscriber or site visitor to execute any trade. Any trades executed following the commentaries and buy/sell ratings on this website are taken at your own risk for your own account.