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Fly News Breaks for February 5, 2019
TC
Feb 5, 2019 | 09:12 EDT
Maxim analyst James Jang initiated TuanChe with a Buy rating and a price target of $13, saying the company offers a model of "significant sales growth" as an asset-light "omnichannel automotive marketplace" that is disrupting the Chinese market. The analyst cites the company's current expansion plans that align with "overall Chinese automotive trends" and expects its expansion into the underserved Tier 3 and below cities to generate more earnings growth.
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