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YY shares up on buy ratings

Underwriters Morgan Stanley (MS) and Citigroup (NYSE:C)initiated coverage of the Chinese social website company with buy ratings. YY (YY) received a hold rating from Deutsche Bank and a neutral from Piper Jaffray. YY's price has increased 12 of the 17 trading days since its IPO. Shares rose 8.1% to 14.75.