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Bitatuto adds to post-earnings gains following Credit Suisse upgrade

Mar. 09, 2016 1:07 PM ETBitauto Holdings Limited (BITA) StockBITABy: Eric Jhonsa, SA News Editor
  • Credit Suisse's Evan Zhou has upgraded Bitauto (BITA +4.1%) to Outperform a day after the Chinese auto site owner posted a Q4 beat and issued strong Q1 guidance. His target is now at $30.
  • Zhou declares Bitauto is making good progress in the auto transaction services market, praises its improving margin profile (drove a large Q4 EPS beat), and is optimistic about its potential in the auto finance, used car, and aftermarket service markets. He also thinks concerns about slowing Chinese car market growth are priced in.
  • Shares are up 9% since the Q4 report arrived.

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