Why Shares of KE Holdings Are Down Today
Shares of Chinese real estate transaction platform operator KE Holdings (NYSE: BEKE) were down by roughly 5% as of 1:37 p.m. ET Monday despite the stock receiving a nice upgrade from Wall Street. Investors are also evaluating new economic data out of China and the evolving COVID-19 situation in that country.
UBS analyst John Lam on Monday morning upgraded KE Holdings -- also known as Beike -- from a neutral rating to a buy, and increased his price target on the stock from $18.60 to $22.50. That implies about 70% upside from current levels.
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Source Fool.com
