DANG Upgraded at JP Morgan

Shares of Dangdang Inc (DANG) are 1.11% lower in pre-market trading Friday after the company was downgraded to ‘Neutral’ from ‘Outperform’ at Credit Suisse (CS). The firm also lowered its target price on DANG shares to $14 from $14.50.

From a sentiment standpoint, DANG, which contrary to Credit Suisse’s rating, was upgraded to ‘Neutral’ from ‘Underweight’ at JP Morgan (JPM) this morning, has a median Wall Street price target of $14.75 with a high target of $20.20.

E Commerce China Dangdang Inc. currently trades at a t-12 forward P/E ratio of 31.91 and a price/sales ratio of 1.19. EPS for the same period registers negative at $0.14. The Beijing based firm has a market cap of $1.16 billion.

In the past 52 weeks, DANG has traded between a low of $7.68 and a high of $19.05. Over the past week the stock has climbed 5.82%. Ticker is up 41% y/y and 50% year-to-date.

The chart below shows where the equity has traded over the last year, with the 50-day and 200-day moving averages included.

E-Commerce China Dangdang Inc. operates as a business-to-consumer e-commerce company in the People’s Republic of China. The company was founded in 2000 and is headquartered in Beijing, the People’s Republic of China.

Disclosure: No Position

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