Bank of America reaffirmed their buy rating on shares of Perfect World Co Ltd (NASDAQ: PWRD) in a report issued on Wednesday. They currently have a $12.20 target price on the stock, down from their previous target price of $13.50.
“The company continues to suffer from a lack of new games and maturing old games. 1Q13 guidance indicates a sequential decline in revenues of its existing games of 9-13% QoQ as its flagships Zhu Xian and PW2 (together est. ~50% of 2012 total sales) reached five and six years respectively. On the other hand, new games like Swordsman and Saint Saiya won’t be able to help in the coming several months as they are expected to be launched in 2H13.,” the firm’s analyst commented.
Perfect World Co Ltd (NASDAQ: PWRD) traded up 0.57% on Wednesday, hitting $10.57. Perfect World Co Ltd has a 52-week low of $8.92 and a 52-week high of $17.46. The stock’s 50-day moving average is currently $11.48. The company has a market cap of $511.7 million and a price-to-earnings ratio of 5.91.
A number of other analysts have also recently weighed in on PWRD. Analysts at Piper Jaffray cut their price target on shares of Perfect World Co Ltd to $14.00 in a research note to investors on Tuesday. Separately, analysts at Barclays Capital reiterated an equal weight rating on shares of Perfect World Co Ltd in a research note to investors on Tuesday. They now have a $12.30 price target on the stock, down previously from $13.50. Finally, analysts at Citigroup downgraded shares of Perfect World Co Ltd from a buy rating to a neutral rating in a research note to investors on Tuesday. They now have a $13.20 price target on the stock, down previously from $18.90.
Perfect World Co, Ltd. is an online game developer and operator in People’s Republic of China. The Company primarily develops online games based on its game engines and game development platforms.
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