BofA/Merrill Lynch Downgrades E-Commerce China Dangdang (DANG) to Neutral

BofA/Merrill Lynch downgraded E-Commerce China Dangdang (NYSE: DANG) from Buy to Neutral with a price target of $15.00 citing diminished risk/reward and rising competition. Analyst Binnie Wong notes even with yesterday's decline shares have more than doubled since the beginning of last year while competition has intensified and key metrics for the recent quarter were disappointing.

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 $9.87 yesterday.

You May Also Be Interested In

• Freedom Broker Double Downgrades Mosaic (MOS) to Sell
• Freedom Broker Downgrades Holley (HLLY) to Hold
• Hyperion DeFi, Inc. (HYPD) PT Raised to $7.10 at Cantor Fitzgerald