Maxim Group Remains a Buy on TuanChe Limited (TC)

Maxim Group analyst Allen Klee reiterated a Buy rating on TuanChe Limited (TCResearch Report) yesterday and set a price target of $13. The company’s shares closed last Monday at $3.41.

Klee noted:

“We lower all our U.S. dollar-based estimates and historical financials based on a 7.1 renminbi exchange rate to the U.S. dollar, from previously using 6.9 as a result of the Chinese government changing the pegged rate.”

According to TipRanks.com, Klee is ranked 0 out of 5 stars with an average return of -17.7% and a 22.9% success rate. Klee covers the Technology sector, focusing on stocks such as Sify Technologies Limited, Dolphin Entertainment Inc, and ATN International Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for TuanChe Limited with a $13 average price target.

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The company has a one-year high of $7.93 and a one-year low of $2.05. Currently, TuanChe Limited has an average volume of 73.44K.

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TuanChe Ltd. is a holding company, which engages in the the operation of providing auto shows, group-purchase facilitation, and electric vehicle sales facilitation. It focuses on marketing solutions and virtual dealership services. The company was founded by Wei Wen and Jian Chen Sun in 2010 and is headquartered in Beijing, China.