Ninetowns Internet Technlgy Grp (NINE) Earns Outperform Rating from Analysts at Wells Fargo & Co

Analysts at Wells Fargo & Co initiated coverage on shares of Ninetowns Internet Technlgy Grp (NASDAQ:NINE) in a note issued to investors on Tuesday, Marketbeat reports. The firm set an “outperform” rating and a $33.00 price target on the stock. Wells Fargo & Co’s target price suggests a potential upside of 25.71% from the stock’s previous close.

NINE has been the topic of several other reports. Credit Suisse Group initiated coverage on Ninetowns Internet Technlgy Grp in a research report on Tuesday. They set an “outperform” rating and a $29.00 price target on the stock. Bank of America initiated 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. Goldman Sachs Group initiated 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. JPMorgan Chase & Co. initiated 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. Finally, Piper Jaffray Companies initiated 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. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $30.61.

Shares of Ninetowns Internet Technlgy Grp (NINE) traded up $1.03 on Tuesday, hitting $26.25. The stock had a trading volume of 108,260 shares, compared to its average volume of 181,235. Ninetowns Internet Technlgy Grp has a 12-month low of $22.23 and a 12-month high of $29.00. The company has a market capitalization of $66.47, a PE ratio of 229.27 and a beta of 0.25.

In related news, Director Gary L. Thomas acquired 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were bought at an average cost of $23.00 per share, for a total transaction of $460,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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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.

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

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