From Earlier: Piper Jaffray Lowers Charm Communications PT, Maintains Overweight

Piper Jaffray lowered its Charm Communications

price target from $14 to $12 and maintained its Overweight rating in a research report published today. In the report, Piper Jaffray stated, "While the transition is clearly painful, we believe much of the bad news has been reflected in the stock following last quarter's announcement (shares down ~12% since March). CHRM remains an attractive play on our bullish thesis for a growing ad market in China." Shares of Charm Communcations were trading at $9.50 at the time of posting, down 2.96% from Wednesday's market close.