Dangdang Lowered to Underweight at JPMorgan Chase & Co. (DANG)
September 3rd, 2013 - 0 comments - Filed Under - by admin
Dangdang logoJPMorgan Chase & Co. downgraded shares of Dangdang (NASDAQ:DANG) from a neutral rating to an underweight rating in a research note released on Friday morning, TheFlyOnTheWall.com reports. They currently have $6.50 target price on the stock, up from their previous target price of $4.30.
JPMorgan Chase & Co. has also modified their ratings on a number of other stocks in the few days. The firm initiated coverage on shares of Vimpelcom Ltd. They issued an overweight rating on that stock. Also, JPMorgan Chase & Co. reiterated its overweight rating on shares of Rio Tinto. Finally, JPMorgan Chase & Co. upgraded shares of Deutsche Bank from a neutral rating to an overweight rating.
Shares of Dangdang (NASDAQ:DANG) traded up 5.89% during mid-day trading on Friday, hitting $8.27. 1,067,652 shares of the company’s stock traded hands. Dangdang has a 1-year low of $3.68 and a 1-year high of $12.00. The stock’s 50-day moving average is $9.10 and its 200-day moving average is $6.10. The company’s market cap is $663.8 million.
A number of other analysts have also recently weighed in on DANG. Analysts at HSBC raised their price target on shares of Dangdang (NASDAQ:DANG) from $7.90 to $13.45 in a research note to investors on Friday, August 16th. They now have an overweight rating on the stock. Separately, analysts at Morgan Stanley downgraded shares of Dangdang (NASDAQ:DANG) from an overweight rating to an equal weight rating in a research note to investors on Friday, August 16th. They now have a $10.50 price target on the stock. Finally, analysts at Zacks downgraded shares of Dangdang (NASDAQ:DANG) from an outperform rating to a neutral rating in a research note to investors on Wednesday, August 7th. They now have a $11.60 price target on the stock.
Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Dangdang presently has an average rating of Hold and a consensus price target of $34.19.
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