Macquarie Starts GA, NTES, CYOU at Outperform, PWRD at Neutral, GAME at Underperform

An analyst at Macquarie initiated coverage on a number of stocks in the Chinese video gaming sector Thursday morning:

• Giant Interactive (NYSE: GA) with an Outperform rating and a $4 price target
  
• Netease.com (Nasdaq: NTES) with an Outperform rating and a $50 price target
  
• Changyou.com (Nasdaq: CYOU) with an Outperform rating and a $40 price target
  
• Perfect World (Nasdaq: PWRD) with a Neutral rating and a $15 price target
  
• Shanda Games (Nasdaq: GAME) with a Underperform and a $4 price target

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