Shanda Interactive: Citi Upgrades To Hold - Eric Savitz (Barron's)

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Shanda Interactive: Citi Upgrades To Hold
Nov 09, 2009 06:01 PM UTC

Eric Savitz (Barron's)

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Symbol	Sentiment	Start	Return	Closed
SNDA	n/a

Via BARRONS.com: Tech Trader Daily - Barron's Online:

Shanda Interactive (SNDA) shares have spiked today after Citigroup analyst Alicia Yap upped her rating on the stock to Hold from Sell, lifting her price target to $55, from $46. On Friday, the stock closed at $47.66.

Yap notes that the stock had dropped 16% since the spin-off of Shanda Games (GAME); given that the company has $21 a share in cash, she writes in a research note, downside is limited and no longer justifies a Sell rating.

SNDA today is up $3.04, or 6.4%, to $50.70.

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