Lyon: Upgrade Cat's Eye Entertainment (01896.HK) target price to 9.5 Hong Kong dollars, maintaining an "outperform" rating.

Intelligent Finance and Economics App learned that Lyon released a research report stating that Maoyan Entertainment (01896.HK) performed in the first half of the year in line with expectations. Benefiting from the strong recovery of the film market, as well as the company's expanding leadership position in film distribution and promotion, revenue increased during the period; net profit was in the middle of the profit forecast, decreasing by 33% year-on-year, due to increased investment in film content and live performance infrastructure. The bank maintained its forecast for Maoyan Entertainment's revenue of 4.6 billion yuan this year, but lowered its adjusted net profit forecast for the current and next year by 24% and 3% respectively. However, the bank raised its target price from 8.78 Hong Kong dollars to 9.5 Hong Kong dollars and continued to give it an "outperform the market" rating.