Susquehanna Defends Chinese Internet Stocks, Calls Concerns Overdone; Upgrades FMCN, JOBS
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Price: $27.42 --0%
Rating Summary:
7 Buy, 1 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
7 Buy, 1 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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An analyst at Susquehanna pounded the table on China-based Internet and new media stocks Wednesday morning, saying recent selling in the sector is not supported by fundamentals. The analyst argues concerns related to accounting fraud from these companies as of late are "overdone."
Susquehanna upgraded shares of both Focus Media (Nasdaq: FMCN) and 51job (Nasdaq: JOBS) from Neutral to Positive this morning. Positive ratings were also reiterated on Baidu (Nasdaq: BIDU), Ctrip (Nasdaq: CTRP), NetEase (Nasdaq: NTES) and SINA Corp. (Nasdaq: SINA).
Focus Media shares are up more than 3 percent to $28.99 Wednesday morning, while shares of 51job have jumped about 6 percent to $50.50.
Check out our Ratings Insider portal to get the most comprehensive and up-to-date analyst coverage on the Street.
Susquehanna upgraded shares of both Focus Media (Nasdaq: FMCN) and 51job (Nasdaq: JOBS) from Neutral to Positive this morning. Positive ratings were also reiterated on Baidu (Nasdaq: BIDU), Ctrip (Nasdaq: CTRP), NetEase (Nasdaq: NTES) and SINA Corp. (Nasdaq: SINA).
Focus Media shares are up more than 3 percent to $28.99 Wednesday morning, while shares of 51job have jumped about 6 percent to $50.50.
Check out our Ratings Insider portal to get the most comprehensive and up-to-date analyst coverage on the Street.
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