Credit Suisse analyst Clive Cheung double downgraded China Youzan to Underperform from Outperform with a price target of HK$0.24, up from HK$0.16. The analyst sees limited immediate improvement in fundamentals and downgraded the e-commerce software-as-a-service sector to Underweight on "an unsustainable valuation amid prevalent short-term risks."
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Published first on TheFly