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Fly News Breaks for January 16, 2018
YNDX
Jan 16, 2018 | 05:34 EDT
Deutsche Bank analyst Lloyd Walmsley raised his price target for Yandex to $50 saying he sees "meaningful upside" to the shares over the next three years as the ride share business scales and the company expands Uber Eats in Russia. Yandex Taxi alone could grow to $50 per share by 2023 in a "blue sky scenario," Walmsley tells investors in a research note. Today he values the Yandex pro forma ride share entity with Uber at $12 per share. The analyst reiterates a Buy rating on Yandex.
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