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Cheetah Mobile -2.3% as Nomura cautiously cuts to Neutral

Mar. 26, 2019 9:22 AM ETCheetah Mobile Inc. (CMCM) StockCMCMBy: Jason Aycock, SA News Editor
  • Cheetah Mobile ADRs (NYSE:CMCM) are 2.3% lower premarket after a downgrade at Nomura, to Neutral.
  • The firm sees a near-term challenge from international partners suspending business with Cheetah after accusations of fraudulent click injection.
  • It cut its price target to $7 from $12; CMCM closed yesterday on NYSE at $7.01.

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