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Bitauto -7.4%; Morgan Stanley downgrades to Neutral

May 16, 2016 2:58 PM ETBitauto Holdings Limited (BITA) StockBITABy: Jason Aycock, SA News Editor
  • Bitauto (NYSE:BITA) is 7.4% lower, to add on to Friday's 12.7% post-earnings drop, and Morgan Stanley has downgraded the stock to Neutral despite some high Y/Y growth.
  • That's likely due to a bad fiscal 2015, writes analyst Amanda Chen.
  • She's decreased her price target on the stock to $20, from $28 -- a lower target that the company has hit with today's decline.
  • Ad subscriptions have slowed, and "This aggressive monetization is unlikely to be sustainable in our view."
  • Now read Bitauto: Revisiting The Long Case »

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BITA--
Bitauto Holdings Limited