Equities researchers at Howard Weil 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. Howard Weil’s price objective suggests a potential upside of 23.40% from the company’s current price.

Several other research analysts have also issued reports on NINE. Goldman Sachs Group initiated coverage on Ninetowns Internet Technlgy Grp in a research report on Tuesday. They set a “buy” rating on the stock. Piper Jaffray Companies initiated coverage on Ninetowns Internet Technlgy Grp in a research report on Tuesday. They set an “overweight” rating on the stock. JPMorgan Chase & Co. initiated coverage on Ninetowns Internet Technlgy Grp in a research report on Tuesday. They set an “overweight” rating on the stock. Bank of America initiated coverage on Ninetowns Internet Technlgy Grp in a research report on Tuesday. They set a “buy” rating on the stock. Finally, Credit Suisse Group initiated coverage on Ninetowns Internet Technlgy Grp in a research report on Tuesday. They set an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $29.00.

Ninetowns Internet Technlgy Grp (NINE) opened at $23.50 on Tuesday. Ninetowns Internet Technlgy Grp has a 1 year low of $22.23 and a 1 year high of $29.00. The stock has a market capitalization of $66.47, a PE ratio of 213.64 and a beta of 0.25.

In other news, Director Gary L. Thomas purchased 20,000 shares of the company’s stock in a transaction on Tuesday, January 23rd. The shares were acquired at an average price of $23.00 per share, for a total transaction of $460,000.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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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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