 Wysłany: Sob 2:38, 20 Lis 2010 Temat postu: Goldman Sachs lowered its price target to $ 38 gra |
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from the large cash reserves,cheap air max LTD shoes, and active support of share repurchases in the downlink. (Book Yu) Lead: Goldman Sachs Investment Report released today, maintaining Shanda (Nasdaq: SNDA) the stock to \down to 38 dollars. video site Shanda Cool 6 (Nasdaq: KUTV) third quarter net income of $ 4,air max 90 women's shoes,000,Air max 95 women,000,air max 2011, 35% sequential growth. Total gross loss from the second quarter of $ 8,700,000 narrowed to 560 million, due to revenue growth, as well as the cost of missing the World Cup lead content to reduce the cost. Operating loss of $ 12,700,000, compared with $ 14,600,air max BW,000 in the second quarter decreased 13% qoq. Cool 6 The third quarter net loss of $ 12,800,air max 90 current men's shoes,000. the game due to lower revenues and higher operating costs, and second quarter results, we will Shanda 2010-2012 non-US GAAP fully diluted Earnings per share decreased from 23 to 35 percent. Total valuation based classification method (SOTP) price target calculated down from $ 39 to $ 38. key risk change -> <! - meaning The following is the summary report: 1) We estimate the third quarter of Cool 6 Shanda contributed 2% of revenue and operating profit margin to Shanda down by 6.4 percentage points (the second quarter, down 7.2 percentage points.) 2) We expect cool 6 in 2010 to 2015 net income of 65% compound annual growth rate in 2015 net income will reach 155 million,air max 87 shoes, to contribute 12% of Shanda's net income. Over time, income growth will cool more than 6 traffic growth. According to F-1 files (after adjustment according to different accounting differences), 2010,men's air max 90 shoes, 9 months, ad revenue for the cool potatoes 6 3.5 to 4 times,air max 90, and potatoes, the flow over the past 3 months (according to data from Alexa.com) Cool just over 30% higher 6 to 40%. 3) Taking into account the serious loss of Cool 6 Current status and competition in the industry, we believe that the next 6 years cool Shanda will continue to drag on profit margins,cheap air max 95 shoes, and the need to refinance at some point. As of the third quarter of 2010, net cash reserves of 6 cool 4,000 million, while its current-quarter loss of approximately $ 12,000,000. We assume that cool 6 to 2014 can be achieved breakeven operating margin of 1%, after the 2015 operating margin of 20%, and 11% of Shanda's operating profit contribution. |
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