Kanzhun price target lowered to $16 from $17 at Citi

Citi lowered the firm’s price target on Kanzhun (BZ) to $16 from $17 and keeps a Buy rating on the shares. The firm expects Q3 results largely in line with consensus. Except for verticals related to export, recruitment demand could worsen in Q4 for most Kanzhun’s verticals, the analyst tells investors in a research note. However, Citi believes the company could focus more on cost optimization to drive its profitability improvement to navigate through the macro headwinds.