Weimob downgraded to Underperform from Neutral at Credit Suisse

Credit Suisse analyst Clive Cheung downgraded Weimob to Underperform from Neutral with a price target of HK$5.40, up from HK$4.10. The analyst sees the recent rally as driven primarily by sentiment improvement from the broader internet sector rather than improved fundamentals. Cheung views Weimob’s current valuation as rich.