Nomura Instinet analyst Carson Lo downgraded Cheetah Mobile to Neutral from Buy and cut his price target for the shares to $7 from $12. As a result of the negative publicity accusing Cheetah of engaging in fraudulent click injection, some overseas partners of Cheetah have suspended their businesses with the company, Lo tells investors in a research note. The analyst believes it will take Cheetah one-to-two quarters to regain the trust from these third-party advertising platforms. This could put short-term pressure to the overseas utility products revenue growth in the first half of 2019, Lo contends.