Ninetowns Internet Technlgy Grp (NASDAQ:NINE) Price Target Cut to $18.00 by Analysts at Citigroup
Ninetowns Internet Technlgy Grp (NASDAQ:NINE) had its target price dropped by equities researchers at Citigroup from $26.00 to $18.00 in a report released on Wednesday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the stock. Citigroup‘s target price would suggest a potential upside of 114.80% from the stock’s current price.
NINE has been the topic of a number of other reports. Zacks Investment Research lowered Ninetowns Internet Technlgy Grp from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 16th. AltaCorp Capital reissued a “sector perform” rating on shares of Ninetowns Internet Technlgy Grp in a report on Thursday, June 20th. Wells Fargo & Co reissued an “outperform” rating and issued a $14.00 price objective (down from $25.00) on shares of Ninetowns Internet Technlgy Grp in a report on Tuesday. Bank of America reissued a “buy” rating and issued a $21.00 price objective (down from $27.00) on shares of Ninetowns Internet Technlgy Grp in a report on Tuesday, June 25th. Finally, Raymond James cut their price objective on Ninetowns Internet Technlgy Grp from $28.00 to $15.00 and set a “strong-buy” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $27.53.
Shares of NINE stock traded down $0.53 during mid-day trading on Wednesday, reaching $8.38. The stock had a trading volume of 6,800 shares, compared to its average volume of 145,911. The business has a fifty day moving average of $13.76. Ninetowns Internet Technlgy Grp has a 1-year low of $8.68 and a 1-year high of $40.39.
Ninetowns Internet Technlgy Grp Company Profile
Ninetowns Internet Technology Group Company Limited is a software company that enables enterprises and trade-related People’s Republic of China Government agencies to streamline the import/export process in China. It operates in four segments: enterprise software and related maintenance services , software development services segment, B2C e-commerce and, and real estate development.
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