YY Inc, (YY) PT Raised to $57.30 at Jefferies

Jefferies analyst Thomas Chong raised the price target on YY Inc, (NASDAQ: YY) to $57.30 (from $57.10) while maintaining a Buy rating.

The analyst comments "JOYY reported 1Q results with revenue in-line and non-GAAP earnings beating expectations. Mid-point of 2Q revenue guidance is in line with consensus. During the conference call, management highlighted solid progress in advertising thanks to multiple drivers on large user base, technology, and localized operations with global presence. Operational adjustment is fully implemented for live-streaming. Reducing losses are expected for All Other segments. Buy."

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