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Jefferies Reiterates Buy Rating, $35 PT on Yandex

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In a report published Wednesday, Jefferies & Company reiterated its Buy rating and $35.00 price target on Yandex (NASDAQ: YNDX).

Jefferies noted, “Lots of debate in the market following Opera Software's Q2 2012 numbers today and news that Opera has extended its browser agreement with Google (NASDAQ: GOOG) for a further two years. The press release reads, 'Opera and Google have entered into a new agreement to integrate Google as the default search partner for the Opera mobile and desktop browsers. The agreement also includes promotion of various Google products and services. This agreement replaces the agreements entered into on 20.11.2009 and is effective through 01.08.2014. This agreement covers all global territories and includes all of Opera's standard mobile and desktop Web browsers.'”

Yandex closed on Tuesday at $21.10.

Latest Ratings for YNDX

DateFirmActionFromTo
Feb 2016Deutsche BankMaintainsBuy
Nov 2015Morgan StanleyUpgradesEqual-weightOverweight
Nov 2015SberbankDowngradesHold

View More Analyst Ratings for YNDX
View the Latest Analyst Ratings

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