BofA Merrill Lynch gives media share buy rating

Sina Science and technology news Beijing time of August 23 night, BofA Merrill Lynch (Bank of America Lynch) issued an investment report today, awarded to the media shares "buy" rating, the target price set to 39 U.S. dollars. The following is a summary of the report: Focus media in the second quarter of fiscal year 2011 advertising demand remains strong. Revenue of 179 million U.S. dollars, higher than the industry expected 10%. Net profit was $43 million, 18% higher than expected by the industry. Diluted earnings per share of $0.3 trillion, above Wall Street's expected $0.24 trillion. We expect the overall advertising market will continue to be strong in the second half of 2011, while the media will remain the preferred platform for advertisers. We expect the total revenue of the media to increase by 22% in 2011 and 21% in 2012.　　We expect that in 2011, the share of the media will reach $1.25 trillion, 2012 will reach $1.54, 2013 will reach $1.96. LBS Interactive Advertising platform: in the fourth quarter of this year, the media will launch the LBS interactive advertising platform in 7 cities.　　Due to time testing, the platform will not bring significant revenue to the media before the second half of 2012. Rating: We give the media share "buy" rating, the target stock price of 39 dollars. (Li Ming)