- Following BitAuto's (NYSE:BITA) strong Q3 results (EPS of $0.32 vs. consensus of $0.26, revenue growth of 40% Y/Y), Oppenheimer hikes its PT to $30 from $20 on the back of higher earnings estimates.
- Management guided for Q4 revenue of $76M-$77.6M (vs. consensus of $75.4M) and EPS of $0.36 ($0.32).
- BitAuto has been buoyed by a strong car market in China, which continues unabated and saw a 24% Y/Y volume increase in Oct.