Yunji: JPM downgrades to 'neutral'

Yunji

29/08/2019 12:40

** J.P.Morgan analyst Andre Chang downgrades Chinese
e-commerce company's  YJ.O  stock to "neutral" from "overweight"
    ** Says Yunji's GMV/revenue growth will face uncertainties
in H219 after it reported disappointing YoY revenue decline in
Q2, as management is streamlining suppliers for better product
offering, & adjusting mix between 1P and 3P businesses
    ** "Yunji's growth potential beyond the short-term
adjustment still exists given the stable increase of members,
but there is no clear catalyst for share price upside during the
transition period," Chang says
    ** He also lowers PT to $7 from $14; median PT $12.85
    ** Current avg. rating on stock is "buy"
    ** Up to Wednesday's close, YJ has fallen 54.4% YTD

 (Reporting by Arjun Panchadar in Bengaluru)