Market Overview

UPDATE: J.P. Morgan Initiates Coverage on Dangdang with Neutral Rating, $4.30 PT

Related DANG
China Hit With First Credit Downgrade In Decades
5 Stocks Moving After Hours

In a report published Wednesday, J.P. Morgan & Co. initiated coverage on Dangdang (NYSE: DANG) with a Neutral rating and $4.30 price target.

J.P. Morgan noted, “We initiate on Dangdang (DANG US) with Neutral and Dec-13 PT of US$4.3.Dangdang likely to see significant headwinds in transforming itself into a diversified platform, given strong competition. DANG's margins have already been dragged down due to competitors' entry and product mix shift, and we expect losses for DANG until 2015. We expect the stock to trade sideways until there is more clarity on profitability, and signs of winning share from competitors.”

Dangdang closed on Tuesday at $4.00.

Latest Ratings for DANG

Dec 2015Morgan StanleyTerminatesEqual-Weight
Sep 2015HSBCMaintainsBuy
Apr 2015OppenheimerMaintainsOutperform

View More Analyst Ratings for DANG
View the Latest Analyst Ratings

Posted-In: J.P. Morgan & Co.Analyst Color Initiation Analyst Ratings


Related Articles (DANG)

View Comments and Join the Discussion!