Howard Weil Initiates Coverage on Ninetowns Internet Technlgy Grp (NINE)

Analysts at Howard Weil initiated coverage on shares of Ninetowns Internet Technlgy Grp (NASDAQ:NINE) in a research note issued on Tuesday. The firm set a “sector perform” rating and a $29.00 price target on the stock. Howard Weil’s target price suggests a potential upside of 14.99% from the stock’s previous close.

Several other brokerages have also recently issued reports on NINE. JPMorgan Chase & Co. started coverage on Ninetowns Internet Technlgy Grp in a research report on Tuesday. They set an “overweight” rating and a $33.00 price target on the stock. Wells Fargo & Co started coverage on Ninetowns Internet Technlgy Grp in a research report on Tuesday. They set an “outperform” rating and a $33.00 price target on the stock. Bank of America started coverage on Ninetowns Internet Technlgy Grp in a research report on Tuesday. They set a “buy” rating and a $35.00 price target on the stock. Piper Jaffray Companies started coverage on Ninetowns Internet Technlgy Grp in a research report on Tuesday. They set an “overweight” rating and a $35.00 price target on the stock. Finally, Goldman Sachs Group started coverage on Ninetowns Internet Technlgy Grp in a research report on Tuesday. They set a “buy” rating and a $23.50 price target on the stock. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Ninetowns Internet Technlgy Grp presently has an average rating of “Buy” and an average target price of $30.61.

Ninetowns Internet Technlgy Grp (NASDAQ NINE) opened at $25.22 on Tuesday. Ninetowns Internet Technlgy Grp has a 1 year low of $22.23 and a 1 year high of $29.00. The stock has a market capitalization of $66.47, a price-to-earnings ratio of 229.27 and a beta of 0.25.

In related news, Director Gary L. Thomas acquired 20,000 shares of Ninetowns Internet Technlgy Grp stock in a transaction dated Tuesday, January 23rd. The stock was acquired at an average cost of $23.00 per share, with a total value of $460,000.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

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About Ninetowns Internet Technlgy Grp

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.

Analyst Recommendations for Ninetowns Internet Technlgy Grp (NASDAQ:NINE)

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