Internet plays have been getting clubbed and Yandex ( YNDX , quote ) -- a high flyer with Russian roots -- has been no different. The big boys on Wall Street are coming around to this stock's unfair treatment.
Morgan Stanley just recommended YNDX and we agree. This is a good trading call after a solid beat down -- the company is great, but never so cheap that we could feel comfortable owning it.
Unlike a lot of the Chinese Internet names -- or even the overblown stories that are well tracked in the United States -- this is not a house of cards, but world-class technology and some sophisticated operators behind the scenes.
Morgan likes the news catalysts on YNDX and, of course, its current price. Shares have been beaten down to roughly 10 times estimated 2013 EBITDA as it is.
They think the next few weeks should bring guidance of 58% to 60% revenue growth and new market share gains. A big distribution deal would be a bonus.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.