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<Research>JPM Axes TME-SW (01698.HK) TP by 60% to $48, Downgrades Rating to Neutral
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JPMorgan issued a research report axing its target prices for TME-SW (01698.HK)'s H-shares/ US stock by 60% to $48/ US$12, from $120/ US$30, and downgrading ratings from Overweight to Neutral. JPMorgan's major concerns is that TME-SW is shifting from a clearly visible subscription business growth to a broader but less visible multi-engine monetization story. The historical re-rating of the stock was supported not only by growth but also by market confidence in its clear, recurring, and KPI-led subscription model, the broker added. AASTOCKS Financial News Website: www.aastocks.com |
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