Oppenheimer Raises EPS Estimate From $0.61 To $0.65 On Giant Interactive (GA)

In a recent report, Oppenheimer has raised the EPS estimate on Giant Interactive GA after 1Q11 results exceeded Oppenheimer's estimates. In the report, Oppenheimer said, "Operating expenses were significantly less than we expected across the board, leading to a 62% operating margin versus our 55% estimate. ZT Online 2 has received a positive response in closed beta testing and achieved 300k PCU." Oppenheimer maintains a Perform rating on GA. Giant Interactive closed yesterday at $9.37.