Susquehanna Upgrades Focus Media Holding Limited (FMCN) to Positive
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Susquehanna upgrades Focus Media Holding Limited (Nasdaq: FMCN) from Neutral to Positive with a $13 price target, citing measures to boost FCFs, CEO increasing stake, and possible new deal from SINA (Nasdaq: SINA).
The firm commented, "Recent positive developments include the CEO increasing a substantial stake in the company, as well as the company cutting loss entities to boost FCFs. Approaching the deadline of the FMCN-SINA deal, we think SINA is likely to alter the deal structure to hold a minority stake in FMCN instead."
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