Bank of America Trims Ninetowns Internet Technlgy Grp (NINE) Target Price to $34.00

Ninetowns Internet Technlgy Grp (NASDAQ:NINE) had its price target decreased by Bank of America from $47.00 to $34.00 in a research report released on Monday morning. Bank of America currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Citigroup began coverage on Ninetowns Internet Technlgy Grp in a report on Monday, November 19th. They issued a buy rating and a $40.00 target price for the company. Raymond James set a $46.00 target price on Ninetowns Internet Technlgy Grp and gave the stock a buy rating in a report on Wednesday, November 14th. JPMorgan Chase & Co. dropped their target price on Ninetowns Internet Technlgy Grp from $45.00 to $44.00 and set an overweight rating for the company in a report on Wednesday, November 14th. Wells Fargo & Co reissued a positive rating and issued a $45.00 target price on shares of Ninetowns Internet Technlgy Grp in a report on Tuesday, October 16th. Finally, Zacks Investment Research cut Ninetowns Internet Technlgy Grp from a hold rating to a strong sell rating in a report on Tuesday, October 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $35.96.

Shares of NINE stock opened at $26.40 on Monday. Ninetowns Internet Technlgy Grp has a 12 month low of $22.23 and a 12 month high of $40.39.

Ninetowns Internet Technlgy Grp (NASDAQ:NINE) last issued its earnings results on Tuesday, November 13th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.01). The firm had revenue of $218.43 million during the quarter, compared to analyst estimates of $215.78 million.

A number of hedge funds have recently added to or reduced their stakes in NINE. Vanguard Group Inc. raised its stake in shares of Ninetowns Internet Technlgy Grp by 73.9% in the 3rd quarter. Vanguard Group Inc. now owns 640,070 shares of the company’s stock valued at $19,573,000 after purchasing an additional 272,038 shares during the period. TIAA CREF Investment Management LLC raised its stake in shares of Ninetowns Internet Technlgy Grp by 69.3% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 104,578 shares of the company’s stock valued at $3,198,000 after purchasing an additional 42,811 shares during the period. Teachers Advisors LLC raised its stake in shares of Ninetowns Internet Technlgy Grp by 75.8% in the 3rd quarter. Teachers Advisors LLC now owns 26,869 shares of the company’s stock valued at $822,000 after purchasing an additional 11,585 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Ninetowns Internet Technlgy Grp by 31.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 856,076 shares of the company’s stock valued at $26,179,000 after purchasing an additional 204,805 shares during the period. Finally, MetLife Investment Advisors LLC acquired a new stake in shares of Ninetowns Internet Technlgy Grp in the 3rd quarter valued at about $345,000.

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

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