Fly News Breaks for January 22, 2020
Jan 22, 2020 | 07:17 EDT
Nomura Instinet analyst Martin Ma downgraded Qudian to Reduce from Neutral with a price target of $3.08, down from $6.51. The analyst thinks Qudian's announcement last Thursday indicates worse than expected 2019 operating outcome. Further, any boost from the company's open-platform initiative from Q1 onwards "will fade out faster than our expectation," Ma tells investors in a research note.
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