Dallas, Texas 02/19/2014 (FINANCIALSTRENDS) – YY Inc (ADR)(NASDAQ:YY) which is a Chinese web technology platform delivering unique business services for the community. The company allows for the delivery of a range of services through a variety of its platforms called as YY Client, the YY.com and the Duowan.com. It now also offers a wide-range of platforms for the mobile-using business employees as well.
YY Inc (ADR)(NASDAQ:YY) has received coverage from several analysts in the recent run. First it was the turn of Deutsche Bank to cover YY Inc (ADR)(NASDAQ:YY) to Buy from hold and move the price target by nearly half from current$55 to $81. Other analysts did not show so dramatic a rise in the target price.
Analysts such as Vivian Hao preferred to call the YY Inc (ADR)(NASDAQ:YY) as one of the best recognized platforms for a particular category of economy, which the analyst prefers to call as ‘fans economy.’
YY too affected by SEC ban, will now see progress
YY Inc (ADR)(NASDAQ:YY) like other chinese stock which were under the scanner following SEC ban on auditing by four of the leading auditing companies branches operating in the region of China and APAC region. The Chinese arm of Deloitte was found to have colluded with business owners at the time of auditing, resulting in the company being banned by SEC.
Now, that SEC has settled the dispute it held with Deloitte, the likely lifting of the ban is expected.
Meanwhile, Morgan Stanley has seen that Baidu’ margins as well as Ctrip’s share gains; Dangdang with its ecommerce winning strategy too showed marginal improvement. Besides, the fulfilment efficiency for Dangdang, which works closely with YY Inc (ADR)(NASDAQ:YY) base users is expected to see higher monetization. It is also reported that the potential is to be 2%of users and less.
The recent spate of upgrades by analysts has seen the stock rise, especially with the Chinese social networking as well as gaming platform.