BofA analyst Miranda Zhuang lowered the firm’s price target on Autohome to $32 from $35 and keeps a Neutral rating on the shares, mainly due to lower estimates and lower cash as the firm factors in the company’s dividend payout. The firm expects auto sales volume in China to stabilize at up 1% year-over-year in 2024, with a 22% year-over-year growth in New Energy Vehicles offsetting a 9% year-over-year decline of Internal Combustion Engine Vehicles, the analyst tells investors in a preview note.
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