Gabelli Starts Shanda (SNDA) at Buy Ahead of Shanda Games IPO

September 24, 2009 2:19 PM EDT

Gabelli & Co. initiates coverage on Shanda Interactive Entertainment (Nasdaq: SNDA) with a Buy rating.

The firm's new coverage comes ahead of Shanda's planned IPO for its Shanda Games unit.

Shares of Shanda are tumbling today, currently down more than 5.5% to $55.19.

To see all the analyst upgrades/downgrades on shares of Shanda, visit our Analyst Ratings page.

Shanda Interactive Entertainment Limited, an interactive entertainment media company, operates online games in the People's Republic of China.


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