News Snapshot:
It's time to buy China-based online social and entertainment firm Hello Group , according to UBS. Analyst Felix Liu upgraded Hello Group to buy from neutral, saying the stock is due for a rebound after its poor first quarter guidance weighed on the firm. He cited improving year-over-year comparisons, better cost discipline and China reopening for the bullish outlook. "[We] think the worst is over following the weak Q123 guidance," Liu wrote on Friday. "We expect a sequential earnings recovery from Q223 given: 1)easing YoY comparison for the livestreaming business due to regulatory changes on tipping in May 2022; 2)...
