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Equities research analysts at Piper Jaffray assumed coverage on shares of iDreamSky Technology Ltd (NASDAQ:DSKY) in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set an “overweight” rating and a $30.00 price target on the stock. Piper Jaffray’s target price would suggest a potential upside of 45.70% from the stock’s previous close.

Shares of iDreamSky Technology Ltd (NASDAQ:DSKY) traded up 4.27% during mid-day trading on Tuesday, hitting $21.47. The stock had a trading volume of 1,365,735 shares. iDreamSky Technology Ltd has a 52 week low of $15.68 and a 52 week high of $22.50. The stock has a 50-day moving average of $19.54 and a 200-day moving average of $19.54. The company’s market cap is $908.7 million.

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