Market Overview

UPDATE: Bank of America Initiates Dangdang with Buy on Compelling Valuation, Risk/Reward Upside

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

In a report published Thursday, Bank of America analyst Binnie Wong initiated coverage on E-Commerce China Dangdang (NYSE: DANG) with a Buy rating and $7.00 price target.

In the report, Wong noted, “Dangdang, one of the leading online retailers in China, is our new Buy with a DCF-based PO of US$7.0, implies 40% upside. Reasons: 1) competitive edge as being the largest online book seller offers a core user base for cross-selling; 2) mix shift to high margin marketplace; 3) opportunities emerging from fast-growing general merchandise space. We expect these initiatives drive margin recovery and bring upside to 2013 forecasts, co. is reporting 1Q results on May 16th. See P.26 for eCommerce trends and outlook and cross-country comparison.”

E-Commerce China Dangdang closed on Wednesday at $4.94.

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: Bank of AmericaAnalyst Color Initiation Analyst Ratings


Related Articles (DANG)

View Comments and Join the Discussion!

Partner Center