JPMorgan analyst Daniel Chen upgraded YY Inc to Overweight from Neutral and raised his price target to $100 from $70. In a research note to investors, Chen says he believes investors view YY as a value stock and think it lacks catalysts, but he contends that those catalysts that could trigger sentiment improvement have finally arrived, including Bigo consolidation that could allow YY to tap into lucrative international markets. The analyst says he is turning more positive on YY's core monetization outlook and sees upside to guidance of high single digit core revenue growth in FY19.