DADA 3Q24 Results: Monetization Could Take Some Time
What’s new: DADA’s reported results that were above consensus and our expectations. Near-term focus could remain on enhancing consumer mindshare and that monetization could take some time to materialize. We lower our PT from USD2.0 to USD1.7 due to lowered outlook. Our updated PT of USD1.7 implies a 0.0x FY25E EV/Revs. We maintain our NEUTRAL rating.Analysts:
Jin Yoon
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