Auriga Sees Shanda Interactive (SNDA) Reporting Inline, Maintains Buy Rating

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Auriga's Buy rating on Shanda Interactive (NASDAQ: SNDA) remains as does the $51 price target. The firm reports that Shanda Games accounts for 78% of the companies revenues.

The company did report three positives in the game market, "1) Dragon Nest continues to perform well, 2) Mir II has been stabilizing, and 3) the acquisition of Eyedentity Games, Dragon Nest's developer, can be positive to both top and bottom line, we believe it is a challenge for the positives to offset the negative and generate growth expected by the Street."

For more ratings news on Shanda Interactive click here and for the rating history of Shanda Interactive click here.

Shares of Shanda Interactive closed at $39.84 yesterday, with a 52 week range of $36.33-$59.92.

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