Deutsche Bank Defends Yandex (YNDX): Impact of Switch at Firefox in Russia Limited

Deutsche Bank reiterates a 'Buy' on Yandex (NASDAQ: YNDX) price target of $34.00.

Analyst, Lloyd Walmsley, said, "We reiterate our rating on Yandex shares and believe the impact of the default search switch at Firefox in Russia will be limited. Yandex query share in the Russian search market posted its eighth week of market share of over 60%, last week, and Yandex share within Chrome continues to rebound. We believe the int'l expansion in Turkey continues to go well, expanding the ultimate TAM for Yandex."

For an analyst ratings summary and ratings history on Yandex click here. For more ratings news on Yandex click here.

Shares of Yandex closed at $17.43 yesterday.

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