UPDATE: Credit Suisse Initiates Coverage on YY with Outperform Rating, $113 PT on Positive Outlook

In a report published Thursday, Credit Suisse analyst Jialong Shi initiated coverage on YY YY with an Outperform rating and $113.00 price target. In the report, Credit Suisse noted, “We initiate coverage on YY with an OUTPERFORM rating and a target price of US$113. We expect solid 62% earnings growth in FY14 driven by 108% growth in its online music revenue. Its online music business still has immense untapped potential with paying users at merely 2-3% of MAUs, much lower than peers' 5-10%. Scalable business model. YY should ramp up its investment in education in 2014-15E and hopes to gain a decent market share in the Rmb98 bn market. The China online education market is fragmented and under-penetrated.” YY closed on Wednesday at $84.46.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorInitiationAnalyst RatingsCredit SuisseJialong Shi
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!