Oppenheimer Upgrades E-Commerce China Dangdang (DANG) to Outperform
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Price: $6.63 --0%
Rating Summary:
4 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Oppenheimer upgraded E-Commerce China Dangdang (NYSE: DANG) from Perform to Outperform with a price target of $9.50.
"While the macro environment and dynamics of China's B2C ecommerce industry remain challenging near term, we believe the headwinds have largely been factored in our and consensus estimates and priced into DANG's share price," the analyst said.
Given the company's market leadership in the B2C space, a stabilizing operating and competitive environment, and a return of investor interest in Chinese internet stocks, the firm is incrementally more positive on DANG's prospects and see multiple expansion as likely in the coming month.
For an analyst ratings summary and ratings history on E-Commerce China Dangdang click here. For more ratings news on E-Commerce China Dangdang click here.
Shares of E-Commerce China Dangdang closed at $7.46 yesterday.
"While the macro environment and dynamics of China's B2C ecommerce industry remain challenging near term, we believe the headwinds have largely been factored in our and consensus estimates and priced into DANG's share price," the analyst said.
Given the company's market leadership in the B2C space, a stabilizing operating and competitive environment, and a return of investor interest in Chinese internet stocks, the firm is incrementally more positive on DANG's prospects and see multiple expansion as likely in the coming month.
For an analyst ratings summary and ratings history on E-Commerce China Dangdang click here. For more ratings news on E-Commerce China Dangdang click here.
Shares of E-Commerce China Dangdang closed at $7.46 yesterday.
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