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Fly News Breaks for August 19, 2016
WUBA
Aug 19, 2016 | 08:50 EDT
Brean Capital analyst Fawne Jiang lowered her price target on 58.com to $57 from $65 following mixed Q2 results. The firm cited soft guidance due to a recent business model transition and agency clean-up efforts which will put growth pressure on revenues. Jiang reiterated her Buy rating on 58.com shares as she believes the long-term growth story remains intact.
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