Fly News Breaks for August 7, 2019
Aug 7, 2019 | 07:56 EDT
Jefferies analyst Edison Lee downgraded ZTE Corp. to Hold from Buy and lowered his price target for the shares to HK$21.92 from HK$30.16. "Tough price squeezing" by the Chinese telcos and "fierce" competition among equipment makers will likely drive ZTE's Q2 and fiscal 2019 profit to below consensus, Lee tells investors in a research note.
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