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Citi downgraded Smart Share Global Limited (NASDAQ:EM) stock rating to neutral from buy on Wednesday, while raising its price target to $1.25 from $1.00 per American Depositary Share (ADS). The company, with a market capitalization of $284 million and current trading price of $1.12, has seen its shares surge 47% over the past six months.
The price target revision aligns with the preliminary non-binding going private proposal that Smart Share Global received. The company has formed a special committee to review this proposal, according to Citi. InvestingPro data shows the company maintains strong liquidity with a current ratio of 3.17, while generating annual revenue of $259.55 million.
Citi analyst Vicky Wei cited the latest expected total return as the basis for changing the rating to "Neutral / High Risk" from the previous "Buy / High Risk" designation.
The research firm updated its 2024 financial projections and estimates for fiscal years 2025-2026 based on Smart Share Global’s most recent annual report. Citi also added forecasts for 2027 based on current industry trends.
Smart Share Global has not yet announced its first-quarter 2025 results as of Wednesday, the analyst noted in her research report.
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