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<Research>BofAS Cuts Weibo (WB.US) TP to US$8.7, Expects Continued Pressure in 4Q
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BofA Securities issued a research report predicting that Weibo (WB.US)'s 3Q25 advertising revenue will be under pressure due to continuously weak online game and mobile phone advertisers' spending, as well as a softening in spending in fast-moving consumer goods advertisers due to 2024 high base. The broker further lowered its 3Q25 total revenue forecast for Weibo from a YoY drop of 4% to a decline of 6%, and reduced its adjusted net profit forecast to US$106 million. Due to the lower earnings estimates, BofA Securities correspondingly cut its target price from US$9 to US$8.7, with rating reiterated at Underperform. Furthermore, based on channel surveys, the broker noted that, due to softened Double 11 consumption, the advertising market may weaken in 4Q25, with weaker advertising spending in Weibo's key advertise sectors. AASTOCKS Financial News Website: www.aastocks.com |
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