Smart Share downgraded to Neutral from Buy at Citi

Citi downgraded Smart Share (EM) to Neutral from Buy with a price target of $1.25, up from $1. The firm upped the price target based on the proposal price in Smart Share’s preliminary non-binding going private proposal. The company has formed a special committee to review the proposal, the analyst tells investors in a research note. Based on the latest expected total return, Citi downgrades the shares to Neutral.