Why Hepsiburada Stock Was Skyrocketing This Week
Turkish e-commerce company Hepsiburada (NASDAQ: HEPS) was on the move in the latter part of this trading week. Much of this action was spurred by an analyst's recommendation upgrade pushing the company into buy territory. According to data compiled by S&P Global Market Intelligence, as of Friday morning week to date, the company's share price was up by almost 34%.
The upgrading party was none other than ever-influential American banking conglomerate .
The bank's analyst Maxim Nekrasov switched the bank's Hepsiburada recommendation from neutral to buy, meanwhile more than doubling the price target to $2 per American depositary receipt (ADR). That level is 32% higher than the company's most recent closing ADR price, even after the recent bull run.
Source Fool.com
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