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.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RLX: