Shenwan Hongyuan: Initiates coverage on Mobvista (01860) with "Buy" rating, target market cap of US$4.4 billion

Zhito Finance APP has learned that Shenwan Hongyuan has issued a research report stating that the bank expects Mobvista (01860) to achieve revenue of US$2.532 billion, US$3.530 billion, and US$4.625 billion in 2026-2028E, representing year-on-year growth of 24%, 39%, and 31%; and to achieve adjusted net profit attributable to shareholders of US$116 million, US$170 million, and US$279 million. The current price corresponds to 2026-2028E PE of 24x/16x/10x, respectively. With reference to the average 2027E PE of comparable companies of about 26x, the bank assigns the company a 2027 PE of 26x, corresponding to a target market capitalization of approximately US$4.4 billion, and initiates coverage with a "Buy" rating.