Goldman Sachs Starts Shanda Games (GAME) at Conviction Buy, Replacing SINA

Goldman Sachs initiates coverage on Shanda Games (Nasdaq: GAME) with a Buy rating and added the stock to their Asia Pacific Conviction Buy List with a $13 price target.

The firm said, "We believe GAME faces less near-term earnings risk relative to other Chinese game companies given its balanced portfolio approach which allows it to maintain steady sequential revenue growth in the mid- to high-single-digit percentages."

Goldman Sachs removed Sina Corp. (Nasdaq: SINA) from its Asia Pacific Conviction Buy List, but maintains a Buy rating and $44 price target. The firm cited lower relative upside to the target price.

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