UPDATE: China Renaissance Assumes DouYu (DOYU) at Hold

China Renaissance analyst Yiwen Zhang assumes coverage on DouYu (NASDAQ: DOYU) with a Hold rating and a price target of $6.00.

The analyst comments "Weaker fundamentals than Huya: Due to Douyu’s smaller mobile MAU base of 59.1mn in 1Q21 (vs. Huya’s 75.5mn) and the larger impact on the company from past merger uncertainty (company is target rather acquirer), we forecast softer growth and a lower margin for Douyu compared with Huya. We forecast Douyu’s revenue to grow 2%/7% YoY in 2021E/22E (vs. 11%/12% for Huya), and adj. net margin at -3.7%/1.5% (vs. 5.7%/7.9% for Huya)."

For an analyst ratings summary and ratings history on DouYu click here. For more ratings news on DouYu click here.

Shares of DouYu closed at $4.97 yesterday.

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