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UPDATE: Piper Jaffray Downgrades Dangdang to Neutral; Revenues Lack Visibility

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In a report published Monday that assumed coverage, Piper Jaffray downgraded Dangdang (NYSE: DANG) from Overweight to Neutral and lowered the price target from $10.00 to $4.50.

Piper Jaffray noted, "We believe Dangdang will continue to benefit from China's robust eCommerce industry, which we feel is in the early innings of an extended period of rapid growth. However, we lack visibility with respect to the company's revenue and earnings growth over the next few quarters as Dangdang continues its shift towards marketplace (3P). We would look to become more constructive on DANG shares once top- and bottom-line visibility improves and we gain more conviction in our estimates."

Dangdang closed at $3.95 on Friday.

Latest Ratings for DANG

DateFirmActionFromTo
Aug 2014JP MorganUpgradesUnderweightNeutral
Aug 2014Credit SuisseDowngradesOutperformNeutral
Aug 2014JP MorganUpgradesUnderweightNeutral

View More Analyst Ratings for DANG
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Downgrades Analyst Ratings

 

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