Citi analyst Lydia Ling downgraded RLX Technology (RLX) to Neutral from Buy with a price target of $2.50, down from $2.80, following the Q4 report. The firm is concerned about the “evolving” regulatory changes and pricing pressure from an unfavorable product mix shift towards puff products in the vaping industry. The analyst expects growth momentum of RLX’s overseas business to be adversely impacted by the shift.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RLX: