UPDATE: Goldman Sachs Raises PT to $24 on SouFun Holdings Limited Post Q3 Results

Goldman Sachs reiterated its Buy rating on SouFun Holdings Limited (NYSE: SFUN) and increased its price target from $23 to $24.

Goldman Sachs noted, "SFUN presented an encouraging operational outlook for 4Q, reflecting the stabilizing property sector amid political transitions. We were encouraged by the traction with online shops, as the program joined e-commerce in showcasing SFUN's ability to tailor product offerings and navigate through difficult conditions. We expect positive revenue momentum to continue into 4Q and 2013E."

SouFun Holdings Limited closed at $19.24 on Friday.

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