UPDATE: Jefferies Raises PT on AsiaInfo-Linkage on Privatization in Progress

In a report published Thursday, Jefferies analyst Clara Fan reiterated a Hold rating on AsiaInfo-Linkage ASIA, and raised the price target from $11.00 to $12.00.

In the report, Jefferies noted, “Privatization is in progress. The proxy statement was filed recently and shareholder voting is at least 3-4 months away, in our view. 2Q13 GAAP net profit was affected by goodwill impairment and non-GAAP profit was in line with guidance. We expect softer topline growth until large-scale upgrades and new initiatives driven by 4G. We revise down FY13/14 net profit estimates by 1.4%/4.3%. Hold. Revise up PT to US$12, supported by the privatization offer.”

AsiaInfo-Linkage closed on Wednesday at $11.52.

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Posted In: Analyst ColorPrice TargetAnalyst RatingsClara FanJefferies
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