Zacks Investment Research Upgrades LINE (LN) to “Buy”

LINE (NYSE:LN) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm presently has a $47.00 target price on the technology company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 8.55% from the stock’s previous close.

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 analysts have also issued reports on LN. ValuEngine raised LINE from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. UBS raised LINE from a “sell” rating to a “neutral” rating in a research note on Tuesday, October 31st. BNP Paribas lowered LINE from a “hold” rating to a “reduce” rating in a research note on Friday, October 27th. Finally, Deutsche Bank raised LINE from a “hold” rating to a “buy” rating in a research note on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. LINE presently has an average rating of “Hold” and an average price target of $47.00.

Shares of LINE (LN) opened at $43.30 on Tuesday. LINE has a 52 week low of $30.90 and a 52 week high of $45.30.

Large investors have recently added to or reduced their stakes in the company. Advisor Group Inc. raised its holdings in shares of LINE by 103.9% during the second quarter. Advisor Group Inc. now owns 3,293 shares of the technology company’s stock valued at $115,000 after acquiring an additional 1,678 shares in the last quarter. Pacad Investment Ltd. bought a new position in shares of LINE during the second quarter valued at approximately $160,000. JPMorgan Chase & Co. bought a new position in shares of LINE during the second quarter valued at approximately $197,000. Nomura Holdings Inc. bought a new position in shares of LINE during the second quarter valued at approximately $241,000. Finally, OxFORD Asset Management LLP bought a new position in shares of LINE during the second quarter valued at approximately $584,000. 3.86% of the stock is owned by hedge funds and other institutional investors.

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About LINE

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.

Analyst Recommendations for LINE (NYSE:LN)

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