Topeka reiterated the purchase rating of NetQin stock

Summary: Check the latest quotes Beijing time April 11 Evening News, the U.S. investment bank Topeka Capital CMC today issued an investment report, reiterated that NetQin stock (NYSE:NQ) Buy rating, the target price from 36.75 U.S. dollars to 30 U.S. dollars.

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Beijing Time April 11 Evening News, the U.S. investment bank Topeka Capital CMC, the investment Report today, reiterated the "buy" Market qin Stock (NYSE:NQ) rating, the target share price from 36.75 U.S. dollars to 30 U.S. dollars.

The following is a summary of the contents of the report:

We reiterated the "buy" rating of NetQin stock, but lowered the forecast of earnings per share of fiscal year 2014 to reflect the change of profit margin caused by NetQin business model.

At the same time, we have again adjusted the Net Qin's revenue forecast. We believe that, over time, the profit margin of NetQin will be improved. Especially given that hardware revenue will drive growth in mobile device management (MDM) service revenue, which has a higher gross margin.

We lowered the net-qin target share price from $36.75 to $30 as it lowered the projected earnings per share.