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Fly News Breaks for August 22, 2017
WUBA
Aug 22, 2017 | 08:13 EDT
Deutsche Bank analyst Alvin Jiang upgraded 58.com to Buy from Hold and raised his price target on the shares to $70 after the company reported better than expected quarterly earnings and revenue, stating that the results proved the company's strong execution regardless of macro volatility. The fact that the company's fast-growing job vertical will replace the property vertical as the biggest growth driver could accelerate revenue growth, Jiang tells investors.
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