Goldman Sachs analyst Piyush Mubayi downgraded Huya (HUYA) to Neutral from Buy as the analyst lowered Q1 and 2020 China internet sector-wide revenue and earnings estimates to factor in the expected impact of the COVID-19 outbreak. Mubayi cut the price target on Huya shares to $22 from $28 given non-GAAP EPADS estimate cuts due to price inflation on esport tournament rights and higher marketing spending. Additionally, Mubayi cut 2020 total Online advertising revenue forecasts for the group by 8%, e-commerce estimates by 14%, O2O estimates by 18%, and raised the view on Live streaming by 3%. The analyst reiterated Buy ratings on Bilibili (BILI), Alibaba (BABA), Tencent (TCEHY), JD.com (JD), Trip.com (TCOM), Pinduoduo (PDD) and Tencent Music (TME).