JPMorgan Loses Lead Role in IPO After Note Branded China Tech 'Uninvestable'

(Bloomberg) — JPMorgan Chase & Co. was removed as the most senior underwriter for Kingsoft Cloud Holdings Ltd.'s Hong Kong stock offering after one of the bank's analysts cut the share-price target for the Chinese technology company by half, people familiar with the matter said. Most Read from Bloomberg Netflix Tumbles as 200,000 Users Exit for First Drop in Decade In Defense of Elon Musk’s Managerial Excellence Twitter Has a Poison Pill Now Putin Calls Time on Foreign Listings in Fresh Hit to Tycoons U.S. Stops Mask Requirement on Planes After Judge's Ruling The New York-based bank lost the so-called…