58 the city lowered its target price from 58 US dollars to 55 dollars

Pacific Crown Securities today released a study to keep the 58-city share rating at Nyse:wuba, while lowering its target price from $58 to $55.

The following is a summary of the contents of the report:

The performance and Outlook are strong;

Points：

58 The city's first-quarter results and second-quarter performance Outlook were strong. Although spending has increased somewhat, we think it has grown modestly and reasonably. Although we have lowered our target price to $55 trillion, we still believe that 58 of the city faces a huge commercial opportunity and will continue to buy the stock.

-58 The city's first-quarter performance was strong

58 the same city in the first quarter revenue of 48.2 million U.S. dollars, higher than we expected 44 million U.S. dollars. By sector, members and online market services are more revenue than we expected. Operating expenses for the quarter were in line with our expectations, with 0.03 dollars per share exceeding our expected 0 dollars. The number of paid members in the first quarter was 441,000 and exceeded the 423,000 we had expected.

-strong second-quarter performance outlook;

58 The city is expected to increase its revenue in the second quarter to $62 million trillion, exceeding our expected $59.3 million trillion. The company also said it would increase spending on the use of pre-installed and hiring salespeople, but we think the growth in spending is modest and reasonable. While 58 of the city will increase investment spending, we still expect its 2014 profit margin to rise.

-Reduced target prices to USD 55; Opportunities in the second-hand and loan services sectors

We believe that 58 of the same city is still at an early stage in the commercialization of its merchant base, both in terms of membership and advertising. We also see budding opportunities in businesses and user services such as second-hand and microfinance. We cut our target price for the same city from $58 to $55, but will continue to buy this stock.