- Morgan Stanley analyst Wei Fang upgraded Dada Nexus Ltd DADA to Overweight from Equal Weight with a price target of $31.60, down from $35, still implying a 54.2% upside.
- Fang cited improving operating metrics and a less intense competitive environment behind the recommendation.
- Dada Nexus is a platform of local on-demand retail and delivery in China.
- Price Action: DADA shares traded higher by 2.98% at $21.21 in the premarket session on the last check Thursday.
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