JP Morgan maintained Shanda Games GAME with a Neutral and lowers the price target from $3.80 to $3.70.
JP Morgan said, "GAME reported inline 4Q12 revenues. Bottom line was lower than expected, due to a 20% Eyedentity share disposal. In Q4, mobile games and overseas revenue surprised on the upside, however, domestic revenue remains sluggish. Mobile game “Million Arthur” topping Korean game chart. We do not expect any near-term earnings surprises. … Without more clarity on new hit games as share price driver, we expect the stock to trade sideways."
Shanda Games closed at $3.01 on Monday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in