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Joyy price target lowered to $49 from $62 at Benchmark

Benchmark analyst Fawne Jiang lowered the firm’s price target on Joyy to $49 from $62 and keeps a Buy rating on the shares. The company reported "moderately above-expectation" Q4 results, but visibility remains low for FY23 so the firm has "decided to take a conservative approach" in adjusting its estimates, the analyst tells investors in a post-earnings research note.

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Published first on TheFly

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