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Fly News Breaks for August 8, 2016
WUBA
Aug 8, 2016 | 07:46 EDT
CLSA analyst Man Ho Lam upgraded 58.com to Buy from Sell and raised its price target to $65 from $53. The analyst said shares are down 21% year-to-date and reflect margin concerns and the unlocking of restricted shares. He believes 58.com may have turned profitable in Q2 and operating leverage could boost margins, lifting valuation.
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