Brean Murray Downgrades Shanda Interactive (SNDA) to Hold
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Brean Murray downgrades Shanda Interactive Entertainment Ltd. (Nasdaq: SNDA) from Buy to Hold. The firms said, "We believe the new regulations for virtual currency transactions and issuance may pressure near term momentum in the company's core games, while our checks also suggest AION’s performance may have stalled. Consequently, while we continue to view the company as one of the best operators in China with arguably the best marketing capability, we believe near term the stock may flatten as expectations readjust ."
Shanda Interactive Entertainment Limited, an interactive entertainment media company, operates online games in the People's Republic of China.
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