Nomura Securities Reiterates a 'Buy' on Shanda Games (GAME); Solid Pipeline, But N-T Weakness

Article Stock Quotes (1) Comments (0)

Nomura Securities reiterates a 'Buy' on Shanda Games (NASDAQ: GAME) price target lowered to $4.00.

Analyst, Jin Yoon, said, "We were negatively surprised by soft guidance for 3Q12F: 4-5% q-q decline in revenue. Monetization has decelerated more than we expected amid intense competition. However, we believe the game pipeline is solid, Shanda's new growth initiatives are in the right direction, and the repurchase program should limit downside from here...We reiterate our Buy rating, but lower our TP to USD4.00, 5.1x our FY12F EPS estimate, relatively in line with the adjusted peer average of 4.6x."

For an analyst ratings summary and ratings history on Shanda Games click here. For more ratings news on Shanda Games click here.

Shares of Shanda Games closed at $3.45 yesterday, with a 52 week range of $3.16-$5.92.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• Morgan Stanley Says Tesla (TSLA) 'Top Pick in U.S. Autos'
• Wells Fargo Downgrades Aruba Networks (ARUN) to Market Perform
• Deutsche Bank Takes Aegerion (AEGR) Price Target from $52 to $85

Create E-mail Alert Related Categories

Analyst Comments, Analyst EPS View, Analyst PT Change

Related Entities

Nomura

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?