Glory Star Announces Research Coverage Initiated by Univest Securities, With Buy Rating and US$6.50 Price Target

Rhea-AI Summary

On July 22, 2021, Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) announced that Univest Securities has initiated research coverage with a 'Buy' rating and a price target of US$6.50 per share. The report, authored by James Jang, highlights Glory Star's leadership in digital media and content-driven e-commerce in China. The company's platform integrates various lifestyle content, enhancing engagement opportunities with a large user base. The report reflects Univest's view but does not represent Glory Star's official stance.

Positive

• Univest Securities initiated coverage with a 'Buy' rating.
• Price target set at US$6.50 per share.
• Strong positioning in digital media and e-commerce in China.

Negative

• None.

BEIJING, July 22, 2021 /PRNewswire/ -- Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) ("Glory Star" or the "Company"), a leading digital media platform and content-driven e-commerce company in China, today announced that Univest Securities has initiated research coverage of Glory Star with a "Buy" rating and price target of US$6.50 per share. The report was authored by James Jang, Director of Research at Univest Securities.

For a copy of the Report please contact Univest Research.

Please note that any opinions, estimates, or forecasts regarding the performance of Glory Star and its management made by Univest Securities are theirs alone and do not represent the opinions, estimates, or forecasts of Glory Star or its management. Glory Star does not by this announcement or otherwise imply that the Company analyzes or approves of such information, conclusions, or recommendations.

About Glory Star New Media Group Holdings Limited

Glory Star New Media Group Holdings Limited is a leading digital media platform and content-driven e-commerce company in China. Glory Star's ability to integrate premium lifestyle content, including short videos, online variety shows, online dramas, live streaming, its Cheers lifestyle video series, e-Mall, and mobile app, along with innovative e-commerce offerings on its platform enables it to pursue its mission of enriching people's lives. The Company's large and active user base creates valuable engagement opportunities with consumers and enhances platform stickiness with thousands of domestic and international brands.

Safe Harbor Statement

Certain statements made in this release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. Such forward-looking states include, but are not limited to, the Company's ability to develop its online retail and SaaS industry value chains, expand its business relationship with existing clients and continue its business growth trajectory.  These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company's profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release.

Contacts

Glory Star New Media Group Holdings Limited
Yida Ye
Email: yeyida@yaoshixinghui.com

ICR LLC.
Robin Yang
Tel: +1 (646) 308-0546
Email: gsnm@icrinc.com

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SOURCE Glory Star New Media Group Holdings Limited

FAQ

What is the price target for GSMG set by Univest Securities?

The price target for GSMG set by Univest Securities is US$6.50 per share.

When did Univest Securities initiate research coverage for Glory Star?

Univest Securities initiated research coverage for Glory Star on July 22, 2021.

What rating did Univest Securities give to GSMG?

Univest Securities gave a 'Buy' rating to GSMG.

Who authored the report on Glory Star?

The report on Glory Star was authored by James Jang, Director of Research at Univest Securities.