On Tuesday, Morgan Stanley maintained its Equalweight rating on shares of YY Inc (NASDAQ:YY), with a steady price target of $37.00. The firm announced the closure of its Research Tactical Idea on the company, which was initially published on January 31, 2024. In a brief statement, Morgan Stanley declared the discontinuation of the previously issued Tactical Idea, advising that it should no longer be relied upon.
YY Inc, a major player in the social media and entertainment sector, has been under Morgan Stanley's analytical radar, with the firm tracking the stock's performance and providing investment insights. The Equalweight rating suggests that the analyst views the company's stock as fairly valued at the current price level, neither undervalued nor overvalued relative to the market or industry benchmarks.
The price target of $37.00 set by Morgan Stanley indicates the firm's assessment of the value investors might expect the stock to reach. This target is based on various factors, including the company's financial performance, market conditions, and future growth prospects.
While the Research Tactical Idea has been closed, Morgan Stanley's overall stance on YY Inc remains unchanged, with the Equalweight rating and price target reaffirmed. This indicates continuity in the firm's perspective on the stock's valuation.
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