Nomura Securities Lowers Price Target and Estimates on Perfect World (PWRD); Weakness in Core Hit Results
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Price: $20.17 --0%
Rating Summary:
7 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 10 | New: 5
Rating Summary:
7 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 10 | New: 5
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Nomura Securities maintains a 'Neutral' on Perfect World (NASDAQ: PWRD) price target lowered from $16 to $13.
Analyst, Jin Yoon, said, "Perfect World’s weakness in its core business, as well as uncertainty associated with pipeline uncertainty and launches, is likely to affect earnings growth this year. We have cut our revenue forecast for FY12F from $497.4mn to $460.7mn. Our new forecast implies growth of -1.0% y-y for FY12F. We have cut our non-GAAP EPS forecast for FY12F from $3.13 to $2.86. The cut to our FY12F earnings forecast is mainly due to a slower top-line growth forecast."
For an analyst ratings summary and ratings history on Perfect World click here. For more ratings news on Perfect World click here.
Shares of Perfect World closed at $11.50 yesterday.
Analyst, Jin Yoon, said, "Perfect World’s weakness in its core business, as well as uncertainty associated with pipeline uncertainty and launches, is likely to affect earnings growth this year. We have cut our revenue forecast for FY12F from $497.4mn to $460.7mn. Our new forecast implies growth of -1.0% y-y for FY12F. We have cut our non-GAAP EPS forecast for FY12F from $3.13 to $2.86. The cut to our FY12F earnings forecast is mainly due to a slower top-line growth forecast."
For an analyst ratings summary and ratings history on Perfect World click here. For more ratings news on Perfect World click here.
Shares of Perfect World closed at $11.50 yesterday.
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