SINGAPORE, Oct. 14, 2025 /PRNewswire/ — Morgan Stanley has raised its goal worth for JOYY (JOYY.US) to US$62 from US$40, reflecting making improvements to basics in JOYY’s core trade, accelerating promoting enlargement, and engaging shareholder returns. The company additionally highlighted JOYY’s powerful money place and engaging shareholder go back program as key elements providing problem coverage.

Reside-streaming trade could have bottomed out: Morgan Stanley thinks JOYY’s are living steaming trade could have bottomed out since 2Q25, later reporting 1% QoQ enlargement and certain control feedback on earnings enlargement. The file expects additional QoQ growth in 2H25 and extra enlargement in 2026-2027.

Promoting trade to be the principle enlargement driving force in 2026 –2027: The file notes that JOYY’s promoting trade persevered its robust earnings momentum within the first part of 2025, following greater than 175% year-over-year enlargement in 2024. Morgan Stanley expects this momentum to persist, forecasting 26% year-over-year enlargement in 2H25 and 20% in 2026.

Horny dividends and buybacks of US$300mn yearly in 2025-2027: The corporate prior to now introduced a three-year quarterly dividend coverage totaling roughly US$600 million, along side a proportion repurchase program of as much as US$300 million all over 2025-2027. In 1H25, JOYY allotted US$135 million to quarterly dividends and proportion buybacks. Morgan Stanley assumes US$300 million in annual investor returns, together with dividends and proportion buybacks.

SOURCE JOYY Inc.