Autohome Inc. (ATHM) PT Raised to $110 at CLSA

CLSA analyst Elinor Leung raised the price target on Autohome Inc. (NYSE: ATHM) to $110.00 (from $100.00) while maintaining a Buy rating.

As a reminder, ATHM announced unaudited fourth quarter and full year 2018 financial results today before the market opened.

Highlights of the earnings release:

• Net Revenues in the fourth quarter of 2018 were RMB2,187.8 million ($318.2 million), exceeding the high end of the Company's original guidance of RMB2,130.0 million ($309.8 million).

• Net Income attributable to Autohome Inc. in the fourth quarter of 2018 increased 39.0% year-over-year to RMB1,015.3 million ($147.7 million).

• Adjusted net income attributable to Autohome Inc. (Non-GAAP) in the fourth quarter of 2018 increased 38.7% year-over-year to RMB1,076.2 million ($156.5 million).

Shares of ATHM trade down -3.11%, while SPY trades up +0.01% in late afternoon trading.

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