BUZZ-J.P. Morgan downgrades Hepsiburada, says rising costs to pressure profits** J.P. Morgan downgrades U.S.-listed Turkish e-commerce platform Hepsiburada HEPS.O to "neutral" from "overweight"
** Brokerage says co’s focus on customer and merchant growth raised marketing costs and expects profit pressures to continue
** Earlier this month, co's Q3 net loss widened due to higher financial expenses and increased advertising costs
** JPM notes uncertainty around cash flow and lack of clear strategy could weigh on shares
** Brokerage cuts price target to $3.07 from $4.85
** Up to last day's close, stock down 23.7% YTD
(Reporting by Kanishka Ajmera in Bengaluru)
((mailto: Kanishka.Ajmera@thomsonreuters.com))
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