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Joyy's Shareholder Returns Poised for 33% Jump
12 Aug
Summary
- JPMorgan upgraded Joyy shares to overweight with a $98 price target.
- Joyy's shareholder return policy targets a 15% annual return.
- The company holds $3.2 billion in net cash, supporting long-term returns.
JPMorgan has significantly boosted its outlook on Joyy, upgrading the livestream and social media company to 'overweight' and raising its price target to $98, indicating a potential 33% increase from recent closing prices.
This optimistic call stems from Joyy's new shareholder return policy, which aims for a 15% annual return, making the stock more attractive to investors. The company's strong financial health, including $3.2 billion in net cash as of the first quarter of 2026, provides a solid foundation for sustained shareholder returns beyond 2028.
Furthermore, JPMorgan anticipates positive momentum from advertising growth across Joyy's platforms. The analyst noted that Bigo Ads's growth prospects are favorable, benefiting from the programmatic ads market and Joyy's data expertise in digital entertainment and e-commerce verticals.
This upgrade aligns with broader market sentiment, as 12 out of 14 analysts covering Joyy currently recommend a 'buy' or 'strong buy' rating. The stock has already seen a substantial rise of approximately 46% over the past year and experienced a premarket gain following JPMorgan's announcement.
