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- UBS analyst Paul Gong initiated coverage of Autohome Inc ATHM with a Neutral rating and a $38 price target, implying a 22.3% upside.
- The company was a success in online ads, and its management is rightly further exploring digital products opportunities. Still, the industry environment looks challenging.
- Carmakers are prioritizing R&D budgets over marketing as verticals lose audience to social networking and short videos, Gong adds.
- Price Action: ATHM shares traded higher by 2.67% at $31.89 in the market session on the last check Thursday.
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