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Fly News Breaks for May 5, 2015
JD, BITA, ATHM
May 5, 2015 | 08:08 EDT
Oppenheimer increased its price target on Chinese auto marketing company Autohome (ATHM) to $60 from $50, and it raised its price target on Autohome's peer, Bitauto Holdings (BITA) to $72 from $62. The firm thinks that the companies will benefit from a number of trends, including OEM/dealers' shift to online verticals and increases in dealer subscription services,. The firm expects Bitauto to also benefit from the launch of its new auto channel in partnership with JD.com (JD). The firm raised its Q1 EPS estimates for both Autohome and Baitauto and keeps Outperform ratings on both names.
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