Goldman Sachs Removes Focus Media Holding (FMCN) from Conviction Buy List

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Goldman Sachs removed Focus Media Holding (NASDAQ: FMCN) from its Asia Pacific Conviction Buy List, but kept a Buy rating on the stock.

The analyst said they see greater upside potential for other stocks in our coverage universe.

Goldman's is still positive on the stock and maintained their $35 price target. The firm noted strong advertising revenue momentum this year and said the company's operating leverage potential is underappreciated.

For more ratings news on Focus Media Holding click here and for the rating history of Focus Media Holding click here.

Shares of Focus Media Holding closed at $30.53 yesterday, with a 52 week range of $14.36-$31.18.

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