Fly News Breaks for November 6, 2019
Nov 6, 2019 | 05:47 EDT
Bernstein analyst Robin Zhu downgraded Autohome to Market Perform from Outperform with an $80 price target. The company's guidance, that it would switch to a pure cost-per-lead model and attempt to enter the U.K. and German markets, is concerning, Zhu tells investors in a research note. The analyst thinks he overestimated the company's pricing power and believes he was too bullish on its earnings power in 2020.
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