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E-Commerce China Dangdang Inc. Message Board

  • andreaskeil2003 andreaskeil2003 Jun 21, 2011 8:37 AM Flag

    Piper Jaffray Reiterates $29 on Dangdang

    Piper Jaffray Reiterates Overweight and PT of $29 on Dangdang
    By Emily Austin
    Benzinga Staff Writer
    June 21, 2011 7:10 AM
    Symbols: DANG
    Tags: Piper Jaffray, dangdang
    Posted in: Analyst Color, Analyst Ratings

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    Piper Jaffray reiterated its Overweight rating on Dangdang (NYSE: DANG). At the same time, the rating agency left its price target on the company's stock unchanged at $29.

    In a research report published today, Piper Jaffray states, "We maintain our Overweight rating and price target of $29 on DANG shares. Shares are down 38% in June, driven by increased investor concern regarding competition and selling pressure surrounding the lockup... We believe investors will return to the name as a play on eCommerce in China, which remains a top global growth opportunity over the next decade. Despite perceived pricing pressure from Joyo and 360buy, we believe Dangdang remains the dominant bookseller."

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