UPDATE: Deutsche Bank Upgrades YY to Buy on Solid Execution, Growing Platform Value

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In a report published Monday, Deutsche Bank analyst Alan Hellawell III upgraded the rating on YY
YY
from Hold to Buy, and raised the price target from $15.20 to $25.10. In the report, Hellawell noted, “YY's better-than-expected rev & usage growth indicates its platform value to Chinese consumers is growing at a pace faster than we thought. Such a trend should accelerate the YY network effect. Despite volatile operating metrics over the past few quarters, YY has managed to gradually improve overall monetization while mgmt proves strong execution skills. We believe ample room exists for YY to grow rev as it expands monetization to new verticals (e.g. online education, etc) over the next few years.” YY closed on Friday at $18.30.
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Posted In: Analyst ColorUpgradesAnalyst RatingsDeutsche Bank
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