Oscar Gruss Initiates Coverage on Focus Media Holdings (FMCN) with a Buy
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Oscar Gruss initiates coverage on Focus Media Holdings (Nasdaq: FMCN) with a Buy. Price target $13.50.
Oscar analyst says, "SINA (nasdaq: SINA) will acquire FMCN's LCD Display Network, Poster Frame Network and In-Store Network; these related businesses combined accounted for 52% of FMCN revenue and 73% of gross profit (for 9 months)...We believe this transaction provides investors with an attractive opportunity to share in any potential future FMCN upside at little or no cost."
Focus Media Holding Limited (Focus Media) operates out-of-home advertising network in the People’s Republic of China using audiovisual television displays, based on the number of locations and number of flat-panel television displays in its network.
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