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PhillipCapital initaited a 'buy' on 17LIVE with DCF-backed tp of 2.30 (WACC: 14.1%, g:1%).
They expect earnings growth in FY24e to be driven by a jump in virtual live streamers, expansion in live commerce revenue and aggressive streamlining of R&D and other expenses. Monthly Active Users (MAU) will begin its recovery with a growth rate of around 10% in FY24e from new content offerings in SE Asia, product enhancements and reinvestment into marketing.
Wit...