Cheetah Mobile +14.5% on JPMorgan coverage launch

|About: Cheetah Mobile Inc. (CMCM)|By:, SA News Editor

JPMorgan, one of Cheetah Mobile's (CMCM) IPO underwriters, has launched coverage with an Overweight and $26 PT.

Shares have now fully recovered the big losses they saw following Cheetah's Monday Q1 report. The Chinese app/browser developer is up 32% from its $14 May 8 IPO price.