Jefferies downgraded China MeiDong Auto to Hold from Buy with a price target of HK$3, down from HK$19. The firm lowered estimates for Meidong to factor in worse than expected margins in the second half of 2023 and a weak 2024 outlook.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>