Brean Capital's Fawne Jiang initiated Autohome ATHM at Buy with a price target of $31.00. The initiation came after Autohome reported Q1 EPS of $0.39 and revenue of $169.6 million last week.
Jiang was optimistic on Autohome's strategic push to expand into ecommerce. "We believe the company is well positioned to capture the expanding [e-commerce] market opportunities given its solid content foundation and user base" and will drive up "top-line growth" said the analyst.
The Brean Capital analyst warned, however, investment for new e-commerce initiatives, "particularly the headcount additions and advertising expenses, could weigh on margins in the near term."
At the time of writing, Autohome traded at $24.88.
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