LINE (NYSE:LN) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage presently has a $47.00 price target on the technology company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 7.53% from the company’s previous close.
According to Zacks, “LINE Corporation develops and operates the LINE application for smartphones. It offers messenger services which include free messages, voice calls and video calls. The company also provides communication and content sales and advertising services through LINE advertising, livedoor blog, and NAVER Matome Web portals. LINE Corporation is based in Tokyo, Japan. “
Several other brokerages have also commented on LN. BNP Paribas lowered LINE from a “hold” rating to a “reduce” rating in a report on Friday, October 27th. UBS raised LINE from a “sell” rating to a “neutral” rating in a research note on Tuesday, October 31st. ValuEngine raised LINE from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Finally, Deutsche Bank upgraded LINE from a “hold” rating to a “buy” rating in a research report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $47.00.
A number of large investors have recently bought and sold shares of LN. Macquarie Group Ltd. purchased a new stake in shares of LINE in the 2nd quarter valued at $27,321,000. Tremblant Capital Group grew its stake in LINE by 18.7% during the 3rd quarter. Tremblant Capital Group now owns 2,594,156 shares of the technology company’s stock worth $93,908,000 after purchasing an additional 409,057 shares in the last quarter. Carmignac Gestion grew its stake in LINE by 42.2% during the 2nd quarter. Carmignac Gestion now owns 1,376,724 shares of the technology company’s stock worth $47,882,000 after purchasing an additional 408,617 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in LINE by 8.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 327,004 shares of the technology company’s stock worth $11,373,000 after purchasing an additional 25,830 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in shares of LINE by 2,416.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 23,933 shares of the technology company’s stock worth $832,000 after acquiring an additional 22,982 shares in the last quarter. Institutional investors own 3.86% of the company’s stock.
LINE Company Profile
LINE Corporation is a Japan-based company mainly engaged in the operation of LINE business portal business. Its LINE business portal segment includes communication and content service and advertising service. Communication and content service provides communication, contents and other services, such as LINE Pay, LINE FRIENDS and LINE Mobile.
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