Replies to post #281 on Shanda Games (fka GAME)

[eastunder]

Shanda Games (GAME) Is Living Off New Releases
10:22 am ET 11/30/2010- StreetInsider

Auriga continues to rate Shanda Games (NASDAQ: GAME) as a Buy with a price target of $7. The company reported a 3Q10 revenue today of $163.6M which was on the high end on the firms guidance range and above the consensus. The higher than expected revenue was due to cutting normal monthly costs and a strong performance from its new releases.

The firm reports that some positives are, "Dragon Nest continues to perform well and the recent release of a new game, Hades Realm II - offset the negatives of AION's setback as well as the decline of Mir II and Woool in 4Q10. For 2011, we believe the company's renewed game pipeline can help diversify the revenue concentration of its older games like Mir II and Woool and put the company back on a growth trajectory."

The company also has a strong list of new games that are scheduled to release within the next few quarters, Hades Realm II, which has already started beta testing on Nov. 26th, Bubble Fighter, Legend of Immortals in 1H2011, and Final Fantasy XIV in 2H2011.

For more ratings news on Shanda Games click here and for the rating history of Shanda Games click here.

Shares of Shanda Games closed at $5.69 yesterday, with a 52 week range of $4.99-$11.49.
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