Market Rating: YY Inc (NASDAQ:YY) Gets Coverage From Bank of America (Merrill Lynch) with $60.00 PT

November 28, 2016 - By Peter Erickson

Market Rating: YY Inc (NASDAQ:YY) Gets Coverage From Bank of America (Merrill Lynch) with $60.00 PT

Why Bank of America (Merrill Lynch) Gives YY Inc (NASDAQ:YY) $60.00 Price Target

Bank of America (Merrill Lynch) has initiated its coverage on YY Inc (NASDAQ:YY), today Monday morning. The broker finds the stock of YY attractive and has target price of $60.00 with Buy rating.

YY Inc (ADR) (NASDAQ:YY) Ratings Coverage

Out of 3 analysts covering YY Inc (NASDAQ:YY), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. $88 is the highest target while $62 is the lowest. The $75 average target is 70.26% above today’s ($44.05) stock price. YY Inc has been the topic of 5 analyst reports since August 17, 2015 according to StockzIntelligence Inc. The rating was initiated by HSBC with “Buy” on Monday, October 31. The company was maintained on Friday, August 14 by Piper Jaffray. The rating was downgraded by Zacks on Thursday, August 20 to “Hold”. The firm earned “Sector Weight” rating on Monday, August 17 by Pacific Crest. As per Wednesday, August 31, the company rating was initiated by JP Morgan.

About 1.53M shares traded hands or 47.12% up from the average. YY Inc (ADR) (NASDAQ:YY) has declined 26.22% since April 25, 2016 and is downtrending. It has underperformed by 32.24% the S&P500.

Analysts await YY Inc (ADR) (NASDAQ:YY) to report earnings on March, 20.

YY Inc. is a social platform that engages users in real-time online group activities through voice, video and text on personal computers and mobile devices. The company has a market cap of $1.60 billion. The Company’s divisions include YY IVAS and others, Huya broadcasting, and 100 Education. It has a 13.74 P/E ratio. YY enables users to create and organize groups of varying sizes to discover and participate in a range of online activities, including music shows, online games, dating shows, live game broadcasting and e-learning.

According to Zacks Investment Research, “YY Inc. is a communication social platform, which engages users in online group activities through voice, text and video. The Company’s Platform consists of YY Client, the YY.com and Duowan.com web portals, Mobile YY and Web-based YY. YY Inc. is based in Guangzhou, the People’s Republic of China.”

YY Company Profile

YY Inc. (YY), incorporated on July 22, 2011, is a social platform that engages users in real-time online group activities through voice, video and text on personal computers and mobile devices. The Company’s divisions include YY IVAS and others, Huya broadcasting, and 100 Education. YY enables users to create and organize groups of varying sizes to discover and participate in a range of online activities, including music shows, online games, dating shows, live game broadcasting and e-learning. YY offers users an entertainment experience through its social community. The Firm owns the domain names of YY.com, Duowan.com, 100.com, Huya.com, Edu24ol.com and Zhiniu8.com. The Company’s YY platform, including YY.com, is jointly operated by personnel from Guangzhou Huaduo and Zhuhai Duowan.

Another recent and important YY Inc (ADR) (NASDAQ:YY) news was published by Marketwatch.com which published an article titled: “/quotes/zigman/3870025/realtime” on November 21, 2012.

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