DOYU - DouYu: Staying Neutral After Q4 Results

2024-04-01 15:32:17 ET

Summary

• I have a negative view of DouYu's recent quarterly user metrics and the management's comments relating to its revenue outlook this year.
• But there are catalysts for DOYU like a faster pace of share buybacks and better-than-expected profitability for the current year.
• My Neutral view of DOYU stays unchanged, after considering the unfavorable read-throughs from its recent results and the presence of potential re-rating catalysts.

Elevator Pitch

I rate DouYu International Holdings Limited ( DOYU ) as a Hold.

Previously, my July 24, 2023 article was focused on the regulatory developments and the top-line outlook for DouYu. The current update evaluates DOYU's key financial and operating metrics....

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