Jefferies Maintains a 'Buy' on Yandex (YNDX); Taking A Longer-Term Approach

May 30, 2012 8:29 AM EDT
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Price: $21.50 --0%

Rating Summary:
    16 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 6 | New: 3
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Jefferies maintains a 'Buy' on Yandex (NASDAQ: YNDX) price target lowered from $40 to $35.

Analyst, David Reynolds, said, "The Short Run - Yandex looks more stressed, the stock overhang, gross margin pressure and the emergence of an alternative way to play Russia Internet creates a pause for thought."

"The long run - we remain fundamentally attracted to Yandex, a focus on the increasingly critical functionality of search together with a geographic centre of gravity in Russia, a digital economy that continues to be increasingly attractive."

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 $21.05 yesterday.

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