Auf Kaufen - Hochgestuft
http://seekingalpha.com/article/...ompanies-worth-a-look?source=yahoo
DANG – Upgrade from Hold to Buy, Drop PT from $25 to $13. While DangDang's latest earnings were not exactly stellar and made us drop our price target, we believe the pullback is much too deep in DANG. The company has a lot of upside from these levels to around the mid-teens. We do not expect profitability until mid-2012, but the company is going through the healthy online merchant process of changing from a bookseller to a merchandise seller, following a similar pattern to Amazon (AMZN). DANG is attractive because it could be a very big company in the future in China in the same way AMZN is in the US. The company saw general merchandise grow from 14% to 24% in the past year, and while that move crimps margins, over time it will mean a lot more revenue as books continue to go by the wayside. Now all DANG needs is its own Kindle. |