JPMorgan increased the target price of Yandex shares to $ 25

Today, investment bank JPMorgan Cazenove has increased the target value of Yandex shares from $ 24 to $ 25 for the 2015 fiscal year. According to Cnews , the bank also raised its forecast for the company's earnings per share (in rubles) by about 3% over the 2015-2017 period.

According to analysts of the company, the profitability of the company “Yandex” will decrease by 3.5 percentage points in the first half of 2015. However, this indicator will depend mainly on two factors: the change in the dollar against the ruble and the revenue growth of Yandex.

“Without a doubt, 2015 will probably be a difficult year for Yandex, because the Russian online advertising market is negatively affected by falling real GDP and rising inflation amid a decline in consumer confidence,” a bank spokesman said.

It is worth noting that the organization predicts an overall decline in the advertising market in Russia immediately by 13% this year. At the same time, the Russian sector of online advertising will show an increase of 8% in the current year. Contextual advertising, which is less affected by the economic downturn, shows an increase of 13% until the end of 2015.