Loading...
Loading...
According to a research report published this morning, Mirae Asset has upgraded Perfect World
PWRD from Hold to Buy.
In the report, Mirae Asset said, "With 2,000+ R&D personnel, PWRD's current revenue growth certainly does not fully reflect its potential, in our view. PWRD has been undergoing painful transition from a volume game producer to a quality game developer. We expect it to achieve modest, but tangible success in 2013-14 even though we still rank the company below NTES, Tencent, CYOU and GA in terms of capabilities as a game developer. While long-term profit growth remains challenged, we expect profit growth of 35% YoY in 2013."
Mirae Asset maintains its $13 PT on Perfect World, which closed yesterday at $11.50.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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