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Fly News Breaks for August 21, 2015
JMEI
Aug 21, 2015 | 08:43 EDT
Summit Research analyst Henry Guo views yesterday's pullback in shares of Jumei as a buying opportunity. The devaluating Chinese Yuan should limit the company's Q3 revenue growth, but management is being overly conservative on its guidance, Guo argues in a research note to investors. He lowered his price target for Jumei to $25 and $30 and reiterates a Buy rating on the name.
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