LINE (LN) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of LINE (NYSE:LN) from a sell rating to a buy rating in a research note published on Tuesday morning. The brokerage currently has $47.00 target price on the technology company’s stock.
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 issued reports on LN. BNP Paribas lowered shares of LINE from a hold rating to a reduce rating in a research note on Friday, October 27th. Deutsche Bank raised shares of LINE from a hold rating to a buy rating in a research note on Wednesday, October 25th. UBS raised shares of LINE from a sell rating to a neutral rating in a research note on Tuesday, October 31st. Finally, ValuEngine raised shares of LINE from a sell rating to a hold rating in a research note on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $47.00.
Shares of LINE (NYSE LN) traded up $0.31 during trading hours on Tuesday, reaching $42.83. 179,400 shares of the company’s stock were exchanged, compared to its average volume of 257,724. LINE has a 12-month low of $30.90 and a 12-month high of $45.30.
A number of institutional investors have recently added to or reduced their stakes in LN. Macquarie Group Ltd. bought a new position in LINE during the 2nd quarter worth approximately $27,321,000. Tremblant Capital Group boosted 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 acquiring an additional 409,057 shares during the last quarter. Carmignac Gestion boosted 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 acquiring an additional 408,617 shares during the last quarter. Goldman Sachs Group Inc. boosted 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 acquiring an additional 25,830 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in 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 during the last quarter. 3.86% of the stock is currently owned by institutional investors and hedge funds.
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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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