Rosenblatt Downgrades ChinaCache (CCIH) to Neutral

Rosenblatt downgraded ChinaCache (NASDAQ: CCIH) from Buy to Neutral with a price target of $10.00, as Tencent and Alibaba enter the CDN business.

"We think Tencent's and Alibaba's (BABA) entrance into the CDN market creates some concern over the market's competitive landscape for the long-run," Jun Zhang commented. "The stock has had a strong rebound in the past several days and has exceeded our $10 price target; therefore we are downgrading it to Neutral."

For an analyst ratings summary and ratings history on ChinaCache click here. For more ratings news on ChinaCache click here.

Shares of ChinaCache closed at $11.87 yesterday.

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