Douyu: JPM upgrades to 'overweight' on improving revenue outlook

DouYu International Holdings

28/05/2020 14:48

** Shares of China's live-streaming platform  DOYU.N  rise
5% at $8.54
    ** J.P.Morgan upgrades DOYU to "overweight" from "neutral"
on strong 2020 live streaming revenue outlook and new game
launches scheduled in the second half of the year
    ** Co on Tuesday beat quarterly revenue and said Q1 average
paying user count jumped 26.2% to 7.6 mln  urn:newsml:reuters.com:*:nPn8NWrpPa
    ** JPM says new blockbuster game launches as key catalyst
which could be potential driver of user growth and monetization
in H2
    ** Says Douyu is also strengthening short video content to
attract leisure users
    ** Brokerage raises PT to $11 from $7.50; also raises its
2020 EPS estimates by 35% on a better live streaming revenue and
margin outlook
    ** Stock down 4% YTD as of last close

 (Reporting By Geetha Panchaksharam)
 ((geetha.panchaksharam@thomsonreuters.com))