Nomura Securities Maintains a 'Buy' on Focus Media (FMCN); 3Q Review

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November 18, 2011 10:09 AM EST
Get Alerts FMCN Hot Sheet
Price: $27.42 --0%

Rating Summary:
    7 Buy, 1 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 12 | Down: 23 | New: 22
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Nomura Securities maintains a 'Buy' on Focus Media Holding (NASDAQ: FMCN) price target of $39.00.

Nomura analyst, Jin Yoon, said, "Focus Media reported 3Q11 results that were above our and consensus estimates. Despite recent concerns about a China hard landing, we believe demand for outdoor advertising has been strong. We maintain our TP of USD39 (based on DCF, assuming a WACC of 11.0% and terminal growth of 2%). We reaffirm our rating and our DCF-based TP of USD39, which implies a 16.2x FY12F P/E."

For an analyst ratings summary and ratings history on Focus Media Holding click here. For more ratings news on Focus Media Holding click here.

Shares of Focus Media Holding closed at $25.28 yesterday.

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