Chinasoft downgraded to Neutral from Buy at Goldman Sachs

Goldman Sachs analyst Allen Chang downgraded Chinasoft to Neutral from Buy with a price target of HK$4.90, down from HK$7.50. China software companies continued their soft revenue growth in Q1, reflecting software budgets remaining constrained under a slow macro backdrop, the analyst tells investors in a research note. The firm sees low visibility and slowing earnings growth ahead.