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Fly News Breaks for March 9, 2016
BITA
Mar 9, 2016 | 08:03 EDT
Credit Suisse analyst Evan Zhou upgraded Bitauto to Outperform from Neutral and increased the price target to $30. The analyst said Bitauto is making progress in auto transaction services with an improving margin profile. Zhou sees good potential of auto finance, used car, and aftermarket service segments offering potential monetisation upsides. The analyst believes China auto market growth headwinds are largely priced in and expects ads/subs to drive strong cash flow.
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