58.com Inc.: TH Data Suggests Better 1Q16 Results; Opearting Margin Is Likely To Improve Due To The Deconsolidation Of 58 Home

  • 58.com Inc.: TH Data Suggests Better 1Q16 Results; Opearting Margin Is Likely To Improve Due To The Deconsolidation Of 58 Home

WUBA will report 1Q16results on Thursday, June 2 before the markets open with an 8am EST conferencecall. Our proprietary data suggests that WUBA is likely to report 1Q16 resultsbetter than the Street expectation due to the increase in both membership andbidding businesses. More importantly, we believe WUBA is likely to improve its non-GAAPoperating margin in 2016 compared with 2015, due to the deconsolidation ofGuazi and 58 Home. We initiate the coverage of WUBA with a BUY rating and pricetarget at $61.00

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T.H. Capital is an independent research and investment advisory firm specializing in China. We offer real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects, from China ADRs to international names that have meaningful exposure to the China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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