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Fly News Breaks for August 7, 2018
XRF
Aug 7, 2018 | 08:02 EDT
Jefferies analyst John Hecht downgraded China Rapid Finance to Hold from Buy and lowered his price target for the shares to $2 from $4. Demand remains robust in China for consumption loans, but near-term regulatory headwinds are likely to impact operating performance at China Rapid, Hecht tells investors in a research note. The analyst sees less visibility on the timing of regulatory clarity, which he believes suggests the stock "will remain at current levels for the foreseeable future."
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