Future Asset maintenance Grand game buy rating cut target price

Sina Science and technology news Beijing time of August 22, the Korean investment company's future asset securities (Mirae Asset Nomura) today issued an investment report to maintain the "buy" rating of Shanda Games (nasdaq:game), lowering the target share price from USD 7.9 to $6.6. The following is a summary of the report: Shanda Games 2011 fiscal year in the second quarter or face short-term pressure.　　We expect Shanda game revenue to fall 3% per cent a year, up only 9% from a year earlier, compared with the industry's forecast of 6%.　　Affected by the seasonal downturn, MMORPG (large multiplayer online role play game) revenue chain will fall 1%, leisure game revenue chain will decline 17%. Eric Iut's data showed that game traffic would fall in the second quarter and DAU (the number of active users) would fall 33%.　　The new game "star Change", which was opened in May, also performed poorly. We continue to maintain the "buy" rating of the Shanda game stock, lowering the target share price from 7.9 US dollars to $6.6. Shanda games will be published in Hong Kong time August 24 the second quarter earnings. (Li Ming)