- Jefferies analyst Thomas Chong initiated coverage of Kanzhun Ltd BZ with a Buy and $44 price target. The price target implies a 30.4% upside.
- Chong noted that Kanzhun's BOSS is an online recruitment service in China and is well known via its mobile-native product BOSS Zhipin.
- BOSS Zhipin has become "one of the largest online recruitment platforms in China."
- China's online recruitment market will likely grow at ~32% compound annual growth rate between 2020-2025.
- Chong also said that the market has "huge potential."
- Chong added that technology is "another important core strength of BOSS."
- Chong sees Kanzhun's AI-backed matching and recommendation technology standing out.
- Price Action: BZ shares traded higher by 6.4% at $33.74 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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