Benzinga | Dec 30, 2021 10:06AM EST

Read Why Jefferies Is Bullish On Kanzhun

* Jefferies analyst Thomas Chong initiated coverage of Kanzhun Ltd (NASDAQ:BZ) with a Buy and $44 price target. The price target implies a 30.4% upside.

* Chong noted that Kanzhun's BOSS is an online recruitment service in China and is well known via its mobile-native product BOSS Zhipin.

* BOSS Zhipin has become "one of the largest online recruitment platforms in China."

* China's online recruitment market will likely grow at ~32% compound annual growth rate between 2020-2025.

* Chong also said that the market has "huge potential."

* Chong added that technology is "another important core strength of BOSS."

* Chong sees Kanzhun's AI-backed matching and recommendation technology standing out.

* Price Action: BZ shares traded higher by 6.4% at $33.74 on the last check Thursday.