E Commmerce China Dangdang Down 11% on Analyst Downgrade

Shares of Chinese ADR E Commerce China Dangdang DANG have lost more than 11% on Monday after analysts at Credit Suisse downgraded the stock from Outperform to Neutral. Despite the downgrade, they did raise their price target for the shares from $9.00 to $10.40. Nevertheless, traders are punishing the name amid heavy profit taking. The stock has been one of the best performers in 2012, rising more than 105% since the beginning of the year. Despite the huge run-up, the volatile Chinese ADR is still down more than 53% over the last 52-weeks.