- The shares of GSX Techedu Inc (NYSE: GSX) have received a price target decrease from $60 to $37. These are the details.
The shares of GSX Techedu Inc (NYSE: GSX) have received a price target decrease from $60 to $37. And JPMorgan analyst DS Kim upgraded the shares of GSX Techedu from “Underweight” to “Neutral.”
Kim noted that there is still “myriads of uncertainty” associated with the company, but the technical selling pressure is expected to subside sooner or later, which would push the stock price higher.
The shares of GSX substantially dropped recently due to a margin call associated with Archegos Capital.
“Although or level of confidence in estimates is too low to turn bullish, we do feel it’s risky to stay bearish given ample margin of error imputed in current multiples – we se neutral as fair for current risk/reward,” wrote Kim in the research note.
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