New Street: DADA 2Q22 Results - Despite Macro Concerns Business Remains Steady
What's new: Dada Nexus reported 2Q22 results and 3Q22 guidance came in largely within expectations. JDDJ direct margin turned positive in 2Q and could continue to improve in 2H driven by increase rev contribution from ads and reduction in customer incentives. We continue to be positive on DADA as long-term fundamentals remain intact. We maintain our BUY rating and PT at USD20.Analysts:
Jin Yoon
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