JG Capital to 58 with the city's reduction rating target price 32 U.S. dollars

Beijing time May 5 Evening News, investment bank JG Capital released a study today, gave 58 shares in the city (Nyse:wuba) "reduction" (underweight) initial rating, the target price set to 32 U.S. dollars.

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

In the next few quarters, 58 of the same city revenue will continue to grow steadily, mainly thanks to further business penetration and commercialization of the upgrade. But at the same time, we are worried about the profit margin pressure and the competitive pressure of the 58 city. To this end, we gave 58 shares in the city "reduction" initial rating, the target price set to 32 U.S. dollars.