UPDATE: Mirae Asset Lowers PT on Perfect World Company from $28 to $27

Mirae Asset has published a research report on Perfect World PWRD lowering the price target. In the report, Mirae Assets wrote, "Perfect World's (PWRD) 2Q results and 3Q guidance were in line with our expectations. Top line grew 8% q-q and 31% y-y, beating our estimate by 1% and consensus by 11%. Company guided 3Q sequential growth of -3% to 3%, comparing to our estimate of -5% q-q. Overseas subsidiaries recorded a 15% q-q and 42% y-y growth, which is one time in nature." Mirae Assets rated Perfect World a BUY with a price target lowered from $28.00 to $27.00. Perfect World closed Monday at $18.60.