Goldman Sachs lowered its price target to $ 38 gra

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the game due to lower revenues and higher operating costs, and second quarter results,[link widoczny dla zalogowanych], we will Shanda 2010-2012 non-US GAAP fully diluted Earnings per share decreased from 23 to 35 percent. Total valuation based classification method (SOTP) price target calculated down from $ 39 to $ 38.

video site Shanda Cool 6 (Nasdaq: KUTV) third quarter net income of $ 4,000,000,[link widoczny dla zalogowanych], 35% sequential growth. Total gross loss from the second quarter of $ 8,[link widoczny dla zalogowanych],700,[link widoczny dla zalogowanych],000 narrowed to 560 million,[link widoczny dla zalogowanych], due to revenue growth, as well as the cost of missing the World Cup lead content to reduce the cost. Operating loss of $ 12,700,000, compared with $ 14,[link widoczny dla zalogowanych],600,[link widoczny dla zalogowanych],000 in the second quarter decreased 13% qoq. Cool 6 The third quarter net loss of $ 12,800,000.

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1) We estimate the third quarter of Cool 6 Shanda contributed 2% of revenue and operating profit margin to Shanda down by 6.4 percentage points (the second quarter, down 7.2 percentage points.) 2) We expect cool 6 in 2010 to 2015 net income of 65% compound annual growth rate in 2015 net income will reach 155 million, to contribute 12% of Shanda's net income. Over time, income growth will cool more than 6 traffic growth. According to F-1 files (after adjustment according to different accounting differences),[link widoczny dla zalogowanych], 2010, 9 months,[link widoczny dla zalogowanych], ad revenue for the cool potatoes 6 3.5 to 4 times, and potatoes, the flow over the past 3 months (according to data from Alexa.com) Cool just over 30% higher 6 to 40%. 3) Taking into account the serious loss of Cool 6 Current status and competition in the industry, we believe that the next 6 years cool Shanda will continue to drag on profit margins, and the need to refinance at some point. As of the third quarter of 2010, net cash reserves of 6 cool 4,000 million, while its current-quarter loss of approximately $ 12,000,000. We assume that cool 6 to 2014 can be achieved breakeven operating margin of 1%, after the 2015 operating margin of 20%, and 11% of Shanda's operating profit contribution.
Lead: Goldman Sachs Investment Report released today,[link widoczny dla zalogowanych], maintaining Shanda (Nasdaq: SNDA) the stock to \down to 38 dollars.
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The following is the summary report:
from the large cash reserves, and active support of share repurchases in the downlink. (Book Yu)

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