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Fly News Breaks for May 16, 2016
BITA
May 16, 2016 | 08:18 EDT
As previously reported, Morgan Stanley downgraded Bitauto to Underweight from Equal Weight and reduced its price target to $20 from $28. Analyst Amanda Chen downgraded shares citing the slowdown in the ad and subscription business, aggressive transaction monetization that could result in dealer push back, and less transparent disclosures.
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