Nomura maintains Shanda game stock buying rating

Sina Science and technology news Beijing time of August 24 night, Nomura released a study today to maintain the grand game (NASDAQ: The following is a summary of the report: Grand Games released the second quarter of 2011 fiscal year results, revenue and net profits are more than our expectations and analysts generally expected.　　We maintain an optimistic view of the Shanda Games, as the company has a strong new product plan and is actively seeking growth in the field.　　Solid new project: Shanda games with strong new product planning and high user expectations, we believe that the company has a strong ability to convert user groups into paid users. Second-quarter results review: Shanda games in the second quarter, the earnings per share were slightly higher than we had expected in terms of non-US general accounting standards, compared with 4.7% of our total revenue. In accordance with the non-US general accounting standards calculated earnings per share of 0.20 U.S. dollars, year-on-year and quarter-on-quarter growth of 12% and 1.8% respectively, sales revenue of 204 million U.S. dollars, year-on-year and the chain growth of 24.5% and 6.8% respectively. We had expected the company to earn 0.19 dollars per share in the quarter, earning 201.3 million dollars.　　Analysts are generally expected to earn 0.18 dollars per share, earning 200.5 million dollars. Valuation: We have been to the Grand games in the 2011 fiscal year for the non-US general accounting standards for the calculation of earnings per share from 0.85 U.S. dollars to 0.91 U.S. dollars, the total revenue is expected to increase from 830.4 million U.S. dollars to 839.4 million U.S. dollars. We maintain the buying rating for the unit while maintaining the 9 dollar target share price unchanged. The target price is equivalent to 9.9 times times the expected earnings per share of the company for the 2011 fiscal year, roughly equivalent to 10.3 times times the average level of the same stock.　　(Leisurely, shtml "target=" _blank ">game's buying rating and the 9 dollar target share price unchanged.) The following is a summary of the report: Shanda Games released its second-quarter results for fiscal year 2011, with revenues and net profits exceeding our expectations and analysts ' general expectations.　　We maintain an optimistic view of the Shanda Games, as the company has a strong new product plan and is actively seeking growth in the field.　　Solid new project: Shanda games with strong new product planning and high user expectations, we believe that the company has a strong ability to convert user groups into paid users. Second-quarter results review: Shanda games in the second quarter, the earnings per share were slightly higher than we had expected in terms of non-US general accounting standards, compared with 4.7% of our total revenue. In accordance with the non-US general accounting standards calculated earnings per share of 0.20 U.S. dollars, year-on-year and quarter-on-quarter growth of 12% and 1.8% respectively, sales revenue of 204 million U.S. dollars, year-on-year and the chain growth of 24.5% and 6.8% respectively. We had expected the company to earn 0.19 dollars per share in the quarter, earning 201.3 million dollars.　　Analysts are generally expected to earn 0.18 dollars per share, earning 200.5 million dollars. Valuation: We will be Grand game 201 beforeFor fiscal year 1, earnings per share of non-US general accounting standards were expected to rise from $0.85 to $0.91, with total revenues expected to increase from 830.4 million to 839.4 million dollars. We maintain the buying rating for the unit while maintaining the 9 dollar target share price unchanged. The target price is equivalent to 9.9 times times the expected earnings per share of the company for the 2011 fiscal year, roughly equivalent to 10.3 times times the average level of the same stock. Leisurely)