Market Overview

UPDATE: Citigroup Initiates Buy, $32.90 PT on Changyou.com on Diversified Approach

Share:
Related CYOU
15 Biggest Mid-Day Losers For Monday
22 Stocks Moving In Monday's Pre-Market Session

Citigroup initiated coverage on Changyou.com (NASDAQ: CYOU) with a Buy rating and and a price target of $32.90.

Citigroup noted, "Changyou has developed a strong position to expand in the online gaming market, especially web games and mobile games. We view positively its diversified approach toward building product strongholds in MMOGs, web games, game vertical (17173.com), and game platforms. Our DCF-based TP of US$32.90 implies 5.4x 2013E nonGAAP EPADS and 38% upside potential from current levels. We believe that with successful diversification of its game product lines, Changyou could be re-rated."

Changyou.com closed at $24.39 on Monday.

Latest Ratings for CYOU

DateFirmActionFromTo
Jun 2017MizuhoDowngradesUnderperform
Apr 2017BenchmarkInitiates Coverage OnHold
Feb 2017Morgan StanleyUpgradesUnderweightEqual-Weight

View More Analyst Ratings for CYOU
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

Related Articles (CYOU)

View Comments and Join the Discussion!