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China Yongda Automobiles downgraded to Underweight from Neutral at JPMorgan

JPMorgan analyst Nick Lai downgraded China Yongda Automobiles to Underweight from Neutral with a price target of HK$2, down from HK$3.50. The analyst believes the weakness across the dealership space is attributable to weak industry pricing and lack of earnings visibility should such a pricing trend persist.

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