HSBC lowered the firm’s price target on PropertyGuru to $6.40 from $7 and keeps a Buy rating on the shares. The company reduced fiscal 2024 sales guidance from 18%-25% to 9%-12% as Vietnam operations are not expected to recover this year, the analyst tells investors in a research note. However, the firm says improved monetization and better cost control are driving improvements in profitability and a path to positive margins.
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