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.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>