PiperJaffray gives a "overweight" rating

Sina Science and technology news Beijing time of August 2, the United States investment Bank Piper Jaffray today published an investment report, to give a swim (nasdaq:cyou) stock "overweight" rating and 53 dollar target share price.　　The following are the main elements of the investment Report: The Tour today released its second-quarter earnings in the fiscal year, with a revenue of $105 million, with a earnings of $1.02 per share, higher than our $99.8 million and 0.93-dollar forecasts, and Wall Street analysts ' 98.9 million-dollar and 0.93-dollar average forecasts.　　The third-quarter revenue forecast for the tour was expected to exceed the average expectations of us and Wall Street analysts, but the earnings per share calculated by US general accounting standards were 0.92 to 0.96 U.S. dollars, below our average of $1.03 trillion and Wall Street analysts ' 0.99-dollar forecast. --2011 's second-quarter results were more than expected. The total revenue growth was 8% to 105 million dollars, higher than our 99.8 million dollar Forecast, and Wall Street analyst's 98.9 million-dollar average forecast. By the new game "Tianlong eight" continued hot and acquisition of web game manufacturers Seventh Avenue, online business sales growth of 7% to 101.5 million U.S. dollars, higher than our 97.8 million dollar expectations. Driven by higher-than-expected revenues and lower marketing spending, the earnings per share of U.S. general accounting standards is $1.02 trillion, higher than the average forecast of $0.93 trillion by us and Wall Street analysts. The active Pay account (APA) grew 1% to 2.91 million Quarter-on-quarter, below our 3.07 million expectations.　　Average income per user (ARPU) rose 1% to 211 yuan, higher than our 207 yuan forecast. --2011 's third-quarter results were expected to exceed expectations, with earnings per share expected to be lower than expected. The dip is expected to have a third-quarter revenue of 115 million to 118 million dollars, higher than our 111.3 million dollar and Wall Street analyst's average forecast of 107.9 million dollars.　　Earnings per share, calculated on the basis of US GAAP, are expected to be 0.92 to 0.96 U.S. dollars (not 0.95 to 0.98 U.S. dollars per share, as calculated by the US General Accounting standards), below our 1.03 dollar and Wall Street analyst average of $0.99. --Complete acquisition of Seventh Avenue. The tour was completed on May 11, 2011 to acquire a 68.258% per cent stake in Seventh Avenue.　　The financial statements for Seventh Avenue are merged into the financial statements from June 1, 2011.　　The risks to the tour include research and development of patents and licensing capabilities, economic uncertainty, competition, short game life cycle, postponement of game release, implementation, pricing and government regulation. We offer a "overweight" rating and a 53 dollar target share price for the swim stock. (Yan Fei)