E-Commerce China DangDang (NYSE:DANG) shares have more than doubled in value in the last 12 months, behind solid sales, improving margins and speculations on future earnings potential. Much of the speculation is fueled by the booming Chinese economy and rising financial stability of the Chinese middle class. DANG looks to transform itself from a successful online media seller into an "online shopping mall", offering a variety of merchandise ranging from apparel to electronics and others.
We have a Hold recommendation on DANG with a $9 price target for the next 12 months and we see no opportunity for arbitrage at this moment. While the company has promising initiatives to attract users and grow sales, we believe most of...
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