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Fly News Breaks for October 15, 2015
WUBA
Oct 15, 2015 | 06:24 EDT
CLSA initiated 58.com with a Sell rating and $48 price target. The firm expects core margins to be half those of international peers due to competition and online-to-offline offerings, or O2O, firms. CLSA expects O2O firms offerings to cannibalize yellow pages services, which make up about one-third of 58.com's revenue.
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