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.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly