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Investing.com - Goldman Sachs has initiated coverage on Damai Entertainment Holdings (HK:1060) with a Buy rating and a price target of HK$1.38.
The firm views Damai as a provider of "superior real-life entertainment experiences in China" across multiple verticals including live concerts/events, IP franchising, and movie/drama production.
Goldman Sachs highlights Damai’s position as the largest live show ticketing platform and largest IP licensing agent in China, noting the company is "well-positioned in each vertical."
The firm believes Damai effectively leverages its leading market share and strategic focus on live events and IP business, which represents a shift away from the more volatile movie production segment.
This strategic direction "effectively caters to the rising demands of younger demographics, resulting in a more sustainable and resilient business model," according to Goldman Sachs.
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