Deutsche Bank Starts Renren Inc (RENN) at Hold; Exploring China's SNS Market

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June 13, 2011 7:25 AM EDT
Get Alerts RENN Hot Sheet
Price: $1.65 --0%

Rating Summary:
    1 Buy, 7 Hold, 5 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 10 | Down: 16 | New: 19
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Deutsche Bank initiates coverage on Renren Inc (NYSE: RENN) with a Hold. PT $8.42.

Deutsche analyst says, "We find in Renren China’s most dominant and focused real-name social networking site. We are pleased by the manifestations of an acceleration in net adds since the IPO, but remain keenly aware of the formidable competition that Renren faces from Tencent, and what Nuomi must countenance in a crowded group-buying market. We initiate with a Hold rating on valuation grounds."

For more ratings news on Renren Inc click here and for the rating history of Renren Inc click here.

Shares of Renren Inc closed at $9.35 yesterday.

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