Market Overview

UPDATE: Morgan Stanley Reiterates On Phoenix New Media Ltd. Following Solid 1Q Results

Share:
Related FENG
Phoenix New Media Grants Loans to Particle
Mid-Morning Market Update: Markets Open Lower; Bridgestone Increases Offer Price For Pep Boys

In a report published Tuesday, Morgan Stanley analyst Philip Wan reiterated an Equal-Weight rating on Phoenix New Media Ltd. (NYSE: FENG), but removed the $10.20 price target.

In the report, Morgan Stanley noted, “Total net revenues grew 27% YoY to Rmb357mn, ~2% above the high-end of its guidance (Rmb340-351mn). Non-GAAP operating margin (excluding SBC) improved 390bps YoY to 15.1%, thanks to operating leverage. Diluted EPS grew 61% YoY to Rmb0.80 (US$0.13), partly due to the one-off disposal gain (Rmb17.7mn) related to Phoenix FM.”

Phoenix New Media Ltd. closed on Monday at $9.19.

Latest Ratings for FENG

DateFirmActionFromTo
Nov 2015MacquarieMaintainsNeutral
Nov 2015MacquarieDowngradesNeutral
Jan 2015Deutsche BankDowngradesBuyHold

View More Analyst Ratings for FENG
View the Latest Analyst Ratings

Posted-In: Morgan Stanley Philip WanAnalyst Color Price Target Analyst Ratings

 

Related Articles (FENG)

View Comments and Join the Discussion!

Get Benzinga's Newsletters