Autohome price target lowered to $46 from $48 at Jefferies

Jefferies analyst Thomas Chong lowered the firm’s price target on Autohome to $46 from $48 and keeps a Buy rating on the shares. The firm estimates total year-over-year revenue growth of about 3% in Q2, but expects a sequential decline in non-GAAP net margin in Q3 and applies “more conservative assumptions” for the full year to factor in the latest industry trends, the analyst tells investors in an earnings preview note.