UPDATE: Zhihu Inc (ZH) PT Lowered to $1.50 at JPMorgan, Upgrades to Neutral

JPMorgan analyst Alex Yao lowered the price target on Zhihu Inc (NYSE: ZH) to $1.50 (from $1.80) while upgrading to Neutral (from Underweight)

The analyst comments "We believe the alleviation of sector risks could drive a normalization of valuation framework yet trading multiples could linger at the low end of historical range as pandemic dampens consumption and hence ad spend. While we are revising down revenue estimates particularly in 2Q22E, we are still constructive on the development of knowledge-based content community and potential market share gain of Zhihu. Upgrade to Neutral."

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