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PWRD.O

ISIN: US71372U1043
SEDOL: B23F975

Rating:

HOLD

Target Price:

20.05 USD

Investment Horizon:

6 to 12 months
22nd Jun 2009 View Report   Download

Company News Alert

Perfect World Co. Ltd (Perfect World) ADR witnessed a single day increase of 9.4% on 19 June 2009 to close at US$29.18. We attribute this single-day upsurge to Management's upward revision in top-line guidance. Although at current levels, the target price suggests a SELL rating, considering upward revision of 2Q 09 top-line guidance, Perfect World’s healthy game offerings and its foray into European and other Asian markets we remain positive on the…

29th May 2009 View Report   Download

Company News Alert

Perfect World Co. Ltd (Perfect World) achieved our target price on 28 May 2009, driven by fundamental factors outlined in our update report and supported by overall market recovery. We expect growth in the online game industry to continue in the face of this economic downturn as gaming is a cheaper mode of entertainment compared to other more expensive means of entertainment or social activities. We also expect the company’s healthy game offerings and entry into Europe…

19th May 2009 View Report   Download

1Q 09 News Alert

Perfect World Co. Ltd (Perfect World) reported healthy y-o-y revenue growth in 1Q 09 surpassing our and consensus expectations as well as Management guidance. Profitability arrived above our estimates as the company successfully curtailed sales and marketing expenses, aiding earnings growth. Going forward, we expect the company's entry into Europe and other Asian markets to further boost revenues....

6th Apr 2009 View Report   Download

4Q 08 & FY 2008 Update Report

The Chinese economy, like other countries across the globe has witnessed a slowdown. However, we do not expect growth in the online game industry to slow in the face of this economic downturn as gaming is a cheaper mode of entertainment and presents a feasible option compared to other more expensive means of entertainment or social activities. Recently, Perfect World announced its plans to acquire a browser game development company....

2nd Mar 2009 View Report   Download

4Q 08 & FY 2008 News Alert

Perfect World Co. Ltd (Perfect World) reported 4Q 08 and FY 2008 top-line marginally above our expectations and within Management’s guided range. We maintain our positive outlook for Perfect World’s future performance based on its upcoming game titles, alliances and agreements to operate and develop games, in addition to Perfect World’s entry into Europe and other Asian markets. Hence, we reiterate our BUY rating for the ADR....