In a report published Tuesday, Deutsche Bank analyst Greg Poole reiterated a Buy rating on Yandex YNDX and increased the price target from $32 to $35 .
In the report, Deutsche Bank noted, "We see Yandex shifting its focus from defending its market share to improved monetization, benefiting from new ad products, new partnerships, and increasing focus on ad tech improving its ability to service large accounts. Near term, we expect upside to our and consensus 2Q estimates in light of solid online ad trends in Russia and product momentum at Yandex".
Yandex closed on Monday at $28.00.
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