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DJ EQS-News: Jefferies Issued Updated Report on iClick (NASDAQ: ICLK) Maintained Buy and Raised Target Price from USUSD12.0 to USUSD17.4 EQS-News / 28/01/2021 / 20:32 UTC+8 Jefferies Issued Updated Report on iClick (NASDAQ: ICLK) Maintained Buy and Raised Target Price from USUSD12.0 to USUSD17.4
Jefferies issued an updated report on iClick Interactive Asia Group Limited (NASDAQ: ICLK) on 28 January 2021, maintaining its Buy rating with a target price of USUSD17.4, which represents an upside of 20.1% from the closing price of USUSD14.49 as at 27 January 2021.
Jefferies reaffirms its positive stance on ICLK in light of BZUN deal and expect incremental revenue to kick-in in 2H21 with full year contribution in 2022. Jefferies expects the co-operation to leverage the expertise of both parties, which includes SaaS expertise of ICLK and operational capabilities of BZUN. The goal is to provide the most comprehensive solutions to brands which can benefit from the private domain traffic of Tencent. The positives for ICLK include (1) accelerated digitization and penetration of large clients and sharing of client resources of both companies. Big customers are new to ICLK; (2) cross-selling opportunities and adding value to merchants with comprehensive solutions; (3) accelerate the pace of development of standardized SaaS product offerings to mid-sized customers; (4) incremental revenue and business opportunities.