Deutsche Bank Transferres Coverage on Yandex (YNDX), Maintains Buy

Deutsche Bank transferred coverage on Yandex (NASDAQ: YNDX) and maintained a Buy rating and a price target of $31.00.

Yandex is the leader in search in Russia (with over 60% share), with a compelling opportunity to see continued strong growth in users, queries, advertisers, and revenues, noted the report.

“We see upside potential over the next several years from geographic expansion and monetization of its other leading Internet categories (maps, news, mail, shopping, payments to name a few). The company is working on several products and partnerships in mobile, which should position the company well as usage shifts to new platforms,” said analyst Ross Sandler.

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 $24.76 yesterday.

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