- GSX Techedu (GSX -27.1%) is down sharply after the Asian desk of Credit Suisse lowers the education stock to an Underperform rating from Neutral.
- The CS analyst team thinks GSX is losing momentum amid heightened competition and points to some mistake with summer promotions. Of note, promotions offered during the summer allowed parents to rotate around without paying fees.
- Credit Suisse lowers its price target on GSX to $71. The average Wall Street price target is $80.67.
- Today's drop in share price is barely a blip with GSX still up 244% YTD.