LB Takeaway | Microsoft, Disney price target cut by double digit while Kuaishou's boosted by 9%

Wells Fargo: Maintains Microsoft's "overweight" rating, cuts price target by 12.5% to $350 from $400

If calculated at yesterday's closing price of $258.83, this price means that there is still 35% room for improvement!

The bank believes the situation is very complex heading into the fourth quarter, with key early indicators of a recessionary environment becoming more apparent. While these macro challenges could put various segments of Microsoft's business at risk and curb some of its recent impressive growth, analysts believe the current environmental impact has not changed Microsoft's fundamental value proposition or competitive positioning any factor. Furthermore, Microsoft is one of the companies best positioned to gain share growth if a market downturn causes global businesses to consolidate IT spending.

Wells Fargo: Maintains Disney's "overweight" rating, cuts price target by 15% to $130 from $153

If calculated at yesterday's closing price of $102.69, this price means that there is still 27% room for improvement!

The bank remains bullish on Disney, citing catalysts for the stock's rise including more progress than investors expected in net Disney + subscriber growth and a possible ESPN + package. Still, analysts cut their forecasts for Disney + subscribers, consumer goods, games and publishing (CPGP) and advertising to reflect the impact of the recession, arguing that expectations need to be readjusted to align with Disney's stock price.

JPMorgan Chase: Maintains Weibo's "Neutral" rating, lowers price target by 8% to $22 from $24

If calculated at yesterday's closing price of $19.84, this price means that there is still 11% room for growth!

The bank sees that Weibo ad spending has continued to recover since June, but the bank believes that due to the slow recovery in consumption and cost-cutting in the Internet industry, it believes that the recovery will be milder than expected; given that brand ads account for most of its revenue, The bank believes that Weibo is in a post-cycle cycle.

The bank lowered its revenue forecast for the second half of the year by 7%, and believes that the continued weak demand for brand ads into the rest of the year, coupled with the uncertainty of the epidemic and weak consumer confidence, is expected to recover more slowly than in 2020. Based on the gradual track of recovery, the Group's revenue and adjusted earnings estimates for next year are lowered by 7% and 13%, respectively.