Macquarie Initiates Coverage on Bitauto Hldg Ltd (ADR) to Outperform

Macquarie Initiates Coverage on Bitauto Hldg Ltd (ADR)(NYSE:BITA). The shares have been rated Outperform. The rating by Macquarie was issued on Jul 8, 2016.

In a different note, On May 16, 2016, Morgan Stanley said it Downgrades its rating on Bitauto Hldg Ltd (ADR). In the research note, the firm Lowers the price-target to $28.00 per share. The shares have been rated ‘Underweight’ by the firm.

Bitauto Hldg Ltd (ADR) (BITA) shares turned negative on Wednesdays trading session with the shares closing down -0.32 points or -1.14% at a volume of 1,50,771. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $27.98. The peak price level was also seen at $27.98 while the days lowest was $27.055. Finally the shares closed at $27.68. The 52-week high of the shares is $49.5 while the 52-week low is $16.09. According to the latest information available, the market cap of the company is $1,752 M.

Bitauto Hldg Ltd (ADR)(BITA) last announced its earnings results on May 12, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $168.00M. Analysts had an estimated revenue of $1.07B. Earnings per share were $0.07. Analysts had estimated an EPS of $0.91.

Bitauto Holdings Limited (Bitauto) is a provider of Internet content and marketing services for China’s automotive industry. The Company’s and Websites provide consumers with information on new and used automobile pricing and promotional information specifications reviews and consumer feedback. Bitauto operates through three segments: the advertising business the EP platform business and its digital marketing solutions business. The advertising business offers automakers and dealers a range of advertising services through its Website and mobile applications. The EP platform business provides Web-based and mobile-based integrated digital marketing solutions to automobile customers in China. The digital marketing solutions business provides automakers with various digital marketing solutions. The Company’s brand names include and

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