Yandex Stock Upgraded: 3 Things You Need to Know

Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope...

Yerterday, analysts at Russian investment bank VTB Capital (the new name for VneshTorgBank, or "foreign commerce bank") announced their second ratings move on Yandex (NASDAQ: YNDX) in as many weeks. On Nov. 2, after a good Q3 earnings report sent the Russian internet giant's stock rocketing 7% higher, VTB pulled the plug on its recommendation of Yandex, warning that its good news was "priced into the equity."

Now, VTB is having a bit of a rethink.

Source: Fool.com