Market Overview

UPDATE: Oppenheimer Reiterates on E-Commerce China Dangdang Following Mixed 3Q Results, Better-Than-Expected 4Q Guidance

Related DANG
Top 4 Stocks In The Catalog & Mail Order Houses Industry With The Lowest PEG Ratio
Earnings Scheduled For November 25, 2014
Alibaba And Baidu Disappoint: Why Qihoo, YY And Dangdang Could Buck The Trend (Seeking Alpha)

In a report published Monday, Oppenheimer analyst Andy Yeung reiterated an Outperform rating on E-Commerce China Dangdang (NYSE: DANG), and raised the price target from $9.50 to $11.00.

In the report, Oppenheimer noted, “DANG reported mixed 3Q results, but provided better than expected 4Q revenue guidance. Margins continued to improve y/y for the fifth consecutive quarter, leading to the highest gross and operating margins since 1Q11. We expect DANG's operating margin to turn positive again by 2Q14. We're raising our revenue and non-GAAP EPADS estimates to reflect management's guidance and higher margin assumptions. We're also raising our price target from $9.50 to $11.00 on higher estimates and market multiples. DANG's valuation remains attractive, trading at ~0.6x 2013E EV/Sales, especially given its strong brand and leadership position (No. 1 online bookstore, No. 3 B2C e-tailer, and No. 5 B2C ecommerce website).”

E-Commerce China Dangdang closed on Friday at $10.34.

Latest Ratings for DANG

Oct 2014MacquarieMaintainsOutperform
Aug 2014JP MorganUpgradesUnderweightNeutral
Aug 2014Credit SuisseDowngradesOutperformNeutral

View More Analyst Ratings for DANG
View the Latest Analyst Ratings

Posted-In: Andy Yeung OppenheimerAnalyst Color Price Target Analyst Ratings


Related Articles (DANG)

Around the Web, We're Loving...