Big Banks Flee Climate Coalition Formed to Reduce Carbon Emissions -- WSJ

WSJ23:00 ET

Citi: Assigns EAST BUY rating to EAST BUY with a Target Price of 18.5 HKD.

Citi released a research report stating that EAST BUY (01797) has seen its stock price increase by about 30% since December 19, primarily due to its early adoption of WeChat's newly launched "gift" feature in the WeChat store mini-program ecosystem. Target Price is HKD 18.5, with a rating of "Buy". The bank believes that EAST BUY is well-positioned to fully capitalize on the surge in seasonal gifting demand during the Spring Festival, for reasons including the company's potential to leverage the power of the WeChat social commerce platform; the first-mover advantage with the new gifting feature in WeChat's vast ecosystem; and WeChat's friendly measures to lower the technical service fee threshold from 5% to 2%.

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