In a report released yesterday, Karen Chan from Jefferies reiterated a Buy rating on YY Inc (NASDAQ: YY), with a price target of $110. The company’s shares opened today at $72, close to its 52-week low of $68.44.
According to TipRanks.com, Chan is a 4-star analyst with an average return of 10.4% and a 51.4% success rate. Chan covers the Technology sector, focusing on stocks such as NetEase Inc, Sina Corp, and Momo Inc.
Currently, the analyst consensus on YY Inc is a Strong Buy with an average price target of $143, implying a 98.6% upside from current levels. In a report released yesterday, Benchmark Co. also maintained a Buy rating on the stock with a $140 price target.
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Based on YY Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $147 million. In comparison, last year the company had a net profit of $83.62 million.
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YY, Inc. engages in managing a communication social platform, which enables users to join real-time online group activities through voice, text, and video. Its services include music and entertainment, online games, online dating, live game broadcasting, online education, and advertising.