Credit Suisse Starts Yandex (YNDX) at Outperform

Credit Suisse initiates coverage on Yandex (NASDAQ: YNDX) with a Outperform rating and a price target of $26.00.

Analyst Olga Bystrova said the company's position in key segments is strong and they are optimistic the company can execute. Despite weak margins, they forecast 3-5 year EBITDA CAGR of over 20%.

The analyst also initiated Mail.Ru at Underperform with a $15 price target.

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 $20.35 yesterday.

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