Goldman Sachs Upgrades Yandex (YNDX) to Buy

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January 11, 2012 8:26 AM EST
Get Alerts YNDX Hot Sheet
Price: $18.94 --0%

Rating Summary:
    19 Buy, 2 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 14 | New: 11
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Goldman Sachs upgraded Yandex (NASDAQ: YNDX) to Buy with a price target of $28.80.

The firm notes share are down 7.8% over the last three months and has underperforming the MSCI CEEMEA index by 14.5%. They believe the market is overestimating the risks of increasing adoption of the Chrome browser and market share erosion. Goldman said the company's market share has been stable over the last three months of 2011 and it is taking steps to improve its market share within Chrome browser and on mobile devices.

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 $18.86 yesterday.

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