JPMorgan upgraded Joyy from neutral to overweight with a price target raised to $98 from $35, implying 33% upside potential. The owner of Bigo Live and Likee platforms unveiled a shareholder return policy in May targeting a 15% annual return. Joyy holds $3.2 billion in net cash, representing 84% of its market cap, allowing it to sustain returns beyond 2028. The stock has risen 46% over the past year with 12 out of 14 analysts covering the name recommending buy or strong buy.
Source: Read the original article
