Read Why BofA Resumed Coverage On DouYu

  • BofA analyst Lei Zhang resumed coverage of DouYu International Holdings Ltd DOYU with an Underperform and price target of $3.30, implying a 29.4% upside.
  • The re-rating follows the termination of the merger offer with HUYA Inc HUYA.
  • Zhang sees multiple ongoing regulation changes impacting DouYu's business development.
  • DouYu is a game-centric live streaming platform in China.
  • HUYA is a technology-driven content company with live game streaming as its core business and focuses on building a live broadcast platform. 
  • Further, rising competition with Huya and Bilibili Inc BILI will lead to growth pressure "across the board," Zhang says.
  • Zhang says competition in game streaming is intensifying.
  • Price Action: DOYU shares closed lower by 0.39% at $2.55 on Thursday.
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