Mogu Inc: MS downgrades to "underweight"; expects rev growth to slow

MOGU

04/06/2019 13:58

** Morgan Stanley downgrades shares of China-based social
media  MOGU.N  to "underweight" from "equal weight" 
    ** MS expects MOGU's revenue growth decelerating to single
digits in 2020, slower than most other China internet companies 
    ** However, adds that fundamentals are yet to bottom and
risks are skewed towards the downside given optimization of the
supply chain is taking longer than expected
    ** Brokerage slashes PT to $4.20 from $14, which implies a 
discount of 11% discount to stock's last close; median PT of
$5.20
    ** Current avg rating on stock is "hold" 
    ** Stock has plunged 77% this year

 (Reporting by Amy Caren Daniel in Bengaluru)
 ((Reuters Messaging:
Amy.CarenDaniel.thomsonreuters.com@reuters.net))