Zai Lab price target lowered to $66 from $123 at Citi

Citi analyst Yigal Nochomovitz lowered the firm’s price target on Zai Lab to $66 from $123 and keeps a Buy rating on the shares. The analyst believes in the stock, the story, and management’s commitment to corporate profitability by the end of 2025. However, “we need to be more realistic about the magnitude of upside,” the analyst tells investors in a research note.