Autohome Inc
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Communication Services : Interactive Media & Services |
Based in China
Company profile

Autohome Inc. is an online destination for automobile consumers in China. The Company is engaged in the provision of online advertising and dealer subscription services in the People's Republic of China (PRC). The Company, through its Websites, autohome.com.cn and che168.com, and mobile applications, delivers content to automobile buyers and owners. These services are offered to automakers and dealers, and advertising agencies that represent automakers and dealers in the automobile industry. The Company's autohome.com.cn targets automobile consumers with a focus on new automobiles. The Company's professionally produced content is created by editorial team and includes automobile-related articles and reviews, pricing trends in various local markets, and photos and video clips. Its database also includes new and used automobile listings and promotional information. Its dealer subscription services allow dealers to market their inventory and services through its Websites.

This security is an American depositary receipt
ADR Fees
American Depositary Receipt (ADR) Fee

ADR fees charged by custodial banks normally average from 1 to 3 cents per share. Other country fees might apply. To read more, see the Exception Fees tab at Brokerage Fees

Closing Price
$102.88
Day's Change
5.13 (5.25%)
Bid
--
Ask
--
B/A Size
--
Day's High
103.02
Day's Low
97.51
Volume
(Average)
Volume:
552,087

10-day average volume:
610,375
552,087

UPDATE: Tesla stock tops $800 on 'blue' hopes, Wall Street upgrade

9:44 pm ET January 7, 2021 (MarketWatch)
Print

By Claudia Assis

Tesla surpasses Facebook as fifth largest U.S. company by market value

Tesla Inc. stock rallied to an all-time high Thursday, boosted by one upgrade and hopes that a "blue" Senate will be a "potential game changer" for the Silicon Valley electric-car maker and other EV and alternative-energy companies.

Tesla (TSLA) shares traded as high as $816.99, an intraday record, and extended their winning streak to a 10th session, their longest since a 10-day stretch in April.

The rally pushed Tesla's valuation to $773.5 billion, surpassing Facebook Inc.'s (FB) $765.5 billion valuation, thus making Tesla the fifth largest U.S. company by market cap. Tesla has added nearly $105 billion in market value this week.

Analysts at RBC Capital, led by Joseph Spak, raised their rating on Tesla stock to their equivalent of hold, from sell, and set a price target of $700, from a previous $339.

See also:Tesla and other EV makers report record sales, sending stocks to new highs (https://www.marketwatch.com/story/tesla-and-other-ev-makers-report-record-sales-sending-stocks-to-new-highs-11609781384)

"There is no graceful way to put this other than to say we got (Tesla's) stock completely wrong (even if our fundamental view to date wasn't too far off)," they said in a note Thursday. "But in the spirit of New Year's resolutions and in light of our recent EV forecast through 2050 report , we re-evaluate (Tesla's) place in the industry, growth opportunity and inexpensive access to capital."

Of the 37 analysts surveyed by FactSet, 12 rate Tesla stock a buy, 14 rate it a hold, and 11 rate it a sell, with an average price target of $455.71, implying a downside of more than 40%.

"Our biggest miss was how (Tesla) can take advantage of its stock price to raise capital inexpensively and fund capacity outlays and growth," the RBC analysts said. Traditional auto makers "need to generate significant cash from existing operations to fund their transition to electrification," and Tesla can also use its stock price to fund acquisitions, they said.

"Even a relatively large deal would be insignificant to (Tesla's) market cap ... To sum it up, the higher stock price is somewhat self-fulfilling to (Tesla's) growth potential," the analysts said.

The boost for Tesla shares came amid steep gains for shares of other EV-and EV-related companies and alternative-energy stocks in recent sessions, as investors bet that a Democrat-controlled Senate will prioritize clean-energy policies.

Related: GM sales drop for the year, but bounced back to pre-pandemic levels in Q4 (https://www.marketwatch.com/story/gm-sales-drop-for-the-year-but-bounced-back-to-pre-pandemic-levels-in-q4-11609863981)

The iShares Global Clean Energy ETF ICLN (#phrase-company?ref=COMPANY%7CICLN;onlineSignificance=passing-mention) has gained nearly 20% this week and 190% in the last 12 months. American depositary receipts of Nio Inc. NIO (#phrase-company?ref=COMPANY%7CNIO;onlineSignificance=passing-mention), a China-based EV maker, rose nearly 11% in the week and more than a 1,500% in the past 12 months. In comparison, the S&P 500 index has gained 1.3% this week and about 18% in the last 12 months.

"A Blue Senate is very bullish and a potential 'game changer' for Tesla and the overall EV sector, with a more green-driven agenda now certainly in the cards for the next few years," Wedbush analyst Dan Ives said in a note Thursday.

"We believe a doubling down on EV tax credits and further consumer incentives and government initiatives around the EV sector will be on the horizon which is a major positive" for Tesla as well as General Motors Co. (GM), privately held Rivian , Fisker Inc. (FSR), and other EV-related companies, he said.

Tesla was added to the S&P 500 index Dec. 21 (https://www.marketwatch.com/story/buying-tesla-stock-heres-what-one-analyst-says-ahead-of-s-p-500-addition-11608315630). The stock fell in that session and the next, but has been on an upward trajectory ever since. The stock has gained more than 750% in the past 12 months, compared with gains around 18% for the S&P.

-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com

	

(END) Dow Jones Newswires

January 07, 2021 21:44 ET (02:44 GMT)

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