UPDATE: Wedbush Downgrades AsiaInfo-Linkage to Neutral

Wedbush lowers its rating on AsiaInfo-Linkage ASIA and reduces its price target to $13 from $16 a share as margins could be under pressure in 2012. Wedbush says, "While we are encouraged by growth prospects supported by domestic subscriber growth, international expansion, and the cable market, we retain some concerns over wage inflation and impact to margins. While the CITIC offer details are uncertain, we would not expect a significant premium from current levels, as we believe shares are near fair value." ASIA closed at $11.85 a share on Friday.