Rodman & Renshaw Downgrades China Finance Online to Market Perform

Rodman & Renshaw downgraded China Finance Online JRJC from Market Outperform to Market Perform. In a research report published today, Rodman & Renshaw states, "With the lackluster domestic Chinese stock market performance, an inflationary environment, and a changing government policy and competitive landscape, we believe the company is facing an increasingly difficult operating environment as well as an inflection point with regard to its current business model. Thus we are adopting a much more conservative view with regard to the company's near to medium term outlook (for the next 3-4 quarters)." At the moment, Rodman & Renshaw do not have a price target placed on the company's stock. On Thursday, China Finance lost 3.88% of its value to close the day at $3.96. Its shares continued to tumble in today's pre-market trading, slumping 6.06% to $3.72.