Citi raised the firm’s price target on RLX Technology to $3.15 from $2.60 and keeps a Buy rating on the shares following the Q4 results. The company’s earnings volatility will continue in the short term as the impact of illegal flavored products prevails and it takes time for users to shift to national standard products, the analyst tells investors in a research note. However, the firm sees signs of a sequential recovery from February and expects the business to bottom out in Q1.
Published first on TheFly
