Barclays Cuts PT on Perfect World Co., Stating Lower than Expected Guidance

Barclays published a report on Perfect World Co.

, where it maintained an Equal Weight rating but lowered the price target from $13.50 to $12.30 after lower than expected guidance by the company. In the report Barclays wrote, "

delivered broadly in-line results for 4Q12 but guided for 1Q13 to be significantly below expectations on the absence of a revenue contribution from Torchlight 2, lack of new game launches and the continued slowdown of monetization for core titles." On Monday, Perfect World Co. closed at $11.54.