Gaotu Techedu price target lowered to $5.81 from $12.34 at Citi

Citi lowered the firm’s price target on Gaotu Techedu to $5.81 from $12.34 and keeps a Buy rating on the shares. The firm is adopting a more conservative stance on the company’s outlook. Citi believes there is a high probability that Gaotu may miss its full-year guidance of 40%-60% year-over-year revenue growth and 50%-70% gross billing growth.