Despite weak 1HFY2021 results, GHY Culture and Media has a strong pipeline that will strengthen its 2HFY2021, says DBS Group Research Ling Lee Keng

Ling is maintaining “buy” on GHY, with a lowered target price of 87 cents from $1 previously. The new target price represents a 38% upside. 

“GHY Culture & Media’s weak 1HFY2021 results were mainly affected by the Covid-19 pandemic. Going forward, though the situation is still fluid, we expect a much stronger 2HFY2021. This is mainly due to the robust pipeline of projects and its strong network of business relationships with key industry players such as TV networks and video streaming platforms such as CCTV, iQIYI and YOUKU,” writes Ling in an Aug 13 note.

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