Market Overview

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

Related FENG
Pheonix New Media Announces Increasement in Advertising Caps for Lilita Contract
Earnings Scheduled For March 8, 2016

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

Nov 2015MacquarieMaintainsNeutral
Nov 2015MacquarieDowngradesNeutral
Jan 2015Deutsche BankDowngradesBuyHold

View More Analyst Ratings for FENG
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Posted-In: Morgan Stanley Philip WanAnalyst Color Price Target Analyst Ratings


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