Nomura analyst Ethan Zhang downgraded VNET Group to Neutral from Buy with a price target of $3.80, down from $6.50. The company’s 2022 revenue grew below the guidance range due to higher utility costs and project ramp-up, the analyst tells investors in a research note. The firm says VNET’s expansion target stays flat for 2023.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on VNET: