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Fly News Breaks for April 16, 2019
QTT
Apr 16, 2019 | 08:43 EDT
Citi analyst Alicia Yap upgraded Qutoutiao to Buy from Neutral while lowering her price target for the shares to $14 from $16. The analyst sees a better risk/reward profile with the shares down 24% since the March 29 secondary offering. Qutoutiao's user numbers were solid in March and possible further collaborations with Taobao merchants and Alibaba's marketing could allow the company to capitalize on user retention, Yap tells investors in a research note
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