Ninetowns Internet Technlgy Grp (NINE) Now Covered by Scotia Howard Weill

Stock analysts at Scotia Howard Weill began coverage on shares of Ninetowns Internet Technlgy Grp (NASDAQ:NINE) in a research note issued on Tuesday. The firm set a “sector perform” rating and a $29.00 price target on the stock. Scotia Howard Weill’s price target indicates a potential upside of 18.61% from the stock’s current price.

NINE has been the subject of a number of other research reports. Howard Weil initiated coverage on Ninetowns Internet Technlgy Grp in a report on Tuesday. They set a “sector perform” rating and a $29.00 target price for the company. Wells Fargo & Co initiated coverage on Ninetowns Internet Technlgy Grp in a report on Tuesday. They set an “outperform” rating and a $33.00 target price for the company. Credit Suisse Group initiated coverage on Ninetowns Internet Technlgy Grp in a report on Tuesday. They set an “outperform” rating and a $29.00 target price for the company. Bank of America initiated coverage on Ninetowns Internet Technlgy Grp in a report on Tuesday. They set a “buy” rating and a $35.00 target price for the company. Finally, JPMorgan Chase & Co. initiated coverage on Ninetowns Internet Technlgy Grp in a report on Tuesday. They set an “overweight” rating and a $33.00 target price for the company. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $32.81.

Ninetowns Internet Technlgy Grp (NASDAQ NINE) traded up $0.95 during trading on Tuesday, hitting $24.45. The company had a trading volume of 51,637 shares, compared to its average volume of 183,826. Ninetowns Internet Technlgy Grp has a 12-month low of $22.23 and a 12-month high of $29.00. The firm has a market capitalization of $66.47, a P/E ratio of 213.73 and a beta of 0.25.

In related news, Director Gary L. Thomas purchased 20,000 shares of Ninetowns Internet Technlgy Grp stock in a transaction that occurred on Tuesday, January 23rd. The stock was bought at an average cost of $23.00 per share, for a total transaction of $460,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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About Ninetowns Internet Technlgy Grp

Ninetowns Internet Technology Group Company Limited is a software company that enables enterprises and trade-related People’s Republic of China Government agencies to streamline the import/export process in China. It operates in four segments: enterprise software and related maintenance services , software development services segment, B2C e-commerce and, and real estate development.

Analyst Recommendations for Ninetowns Internet Technlgy Grp (NASDAQ:NINE)

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