YY Upgraded to “Overweight” by Piper Jaffray (YY) YY (NYSE: YY) was upgraded by investment analysts at Piper Jaffray from a “neutral” rating to an “overweight” rating in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $40.00 price target on the stock, up from their previous price target of $20.00. Piper Jaffray’s price objective points to a potential upside of 33.42% from the stock’s previous close. The analysts wrote, “We are basing this decision on YY’s new revenue drivers, which we believe will support both revenue and long term user growth, as well as improved profitability, underpinned by YY’s highly scalable proprietary technology platform. These drivers include turning on monetization for mobile and education verticals, and the launch of the Happy Boys tie-in with Hunan Satellite TV. Additionally, we continue to feel comfortable with our FY13 estimates, and are raising our FY14E EPS modestly based on YY’s ability to better leverage its cost structure.” YY (NYSE: YY) opened at 29.98 on Tuesday. YY has a 52-week low of $10.50 and a 52-week high of $30.95. The stock’s 50-day moving average is currently $27.55. The company has a market cap of $1.630 billion and a price-to-earnings ratio of 49.72. Separately, analysts at Deutsche Bank upgraded shares of YY from a “hold” rating to a “buy” rating in a research note to investors on Monday, May 6th. They now have a $25.10 price target on the stock, up previously from $15.20. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. YY presently has an average rating of “Buy” and an average price target of $26.88. |