Market Overview

UPDATE: Morgan Stanley Reiterates Equal-Weight Rating, Lowers PT on Renren

Related RENN
The State Of Chinese Company Take-Private Offers: A Look At WuXi PharmaTech
Investing Is No Game...Or Is It? This Gaming Portfolio Returned 57% In One Year

In a report published Wednesday, Morgan Stanley reiterated its Equal-Weight rating on Renren (NYSE: RENN), but slightly lowered its price target from $4.20 to $3.80.

Morgan Stanley noted, “3Q sales rose 47% YoY, boosted by strong game sales (+120% YoY), which buffered the weaker ad sales (-14% YoY). Competition on social ads, especially from Tencent and Sina, remains intense. We would turn more positive when it starts to break even. Maintain EW on a high net cash balance.”

Renren closed on Tuesday at $3.38.

Latest Ratings for RENN

Aug 2014Bank of AmericaReiteratesUnderperform
May 2014Bank of AmericaDowngradesUnderperform
Nov 2013JefferiesDowngradesHoldUnderperform

View More Analyst Ratings for RENN
View the Latest Analyst Ratings

Posted-In: Morgan StanleyAnalyst Color Price Target Analyst Ratings


Related Articles (RENN)

View Comments and Join the Discussion!

Get Benzinga's Newsletters