Perfect World Pictures PWI

A number of investment brokers have recently updated their price targets on shares of Perfect World Co., Ltd. (NASDAQ:PWRD). According to the latest broker reports outstanding on Wednesday 4th of May, 0 analysts have a rating of “strong buy”, 0 analysts “buy”, 0 analysts “neutral”, 0 analysts “sell” and 0 analysts “strong sell”.

Most recent broker ratings

05/06/2015 – Perfect World Co., Ltd. was downgraded to “hold” by analysts at Zacks.

11/28/2014 – Perfect World Co., Ltd. was downgraded to “sector perform” by analysts at Pacific Crest.

08/20/2014 – Perfect World Co., Ltd. had its “equal weight” rating reiterated by analysts at Barclays. They now have a USD 24 price target on the stock.

Shenzhen-listed Perfect World Pictures this month purchased 100% of Perfect World Co. for 12 billion yuan, or $1.85 billion, by issuing 614 million new shares at 19.53 yuan. Chi, who owned 67% of Perfect World Co., gained 415 million shares, or a 38% stake in Perfect World Pictures. Chi previously held 22.6% of Perfect World Pictures, and combined with his new 38% holding following the issuance of new shares, holds a combined 47.6% stake in the business.The newly issued shares formally became tradable on Thursday, and rose 3.2% to close at 40.54 yuan, leaving Chi with a fortune worth $2.9 billion after deducting for collateralized stock.

Perfect World Co. was privatized and delisted from Nasdaq in July 2015 and is part of a wave of U.S.-listed China companies eying domestic listings in search of higher valuations. Others include Dang Dang, 21Vianet, Qihoo and Bona.3

Perfect World Pictures earlier this year announced an agreement with Hollywood power Universal Pictures to fund film projects. Perfect World Pictures’ net profit in 2016, 2017 and 2018 is expected to be 755 million yuan, 988 million yuan, and 1.2 billion yuan, or $116 million, $152 million and $184.3 million, the company said. Perfect World Pictures was known as Zhejiang Jinlei Refractories before Chi took control via a backdoor listing in 2014.

Perfect World Pictures Co Ltd engages in the R&D, manufacturing & distribution of refractory materials for secondary refining vessels in China. The Company also provides design, installation, and construction of refractory materials.

AMC Entertainment Holdings Inc. agreed to buy Carmike Cinemas Inc. in a cash deal that would make a Chinese-owned company the largest movie-theater operator in the U.S.

AMC will pay $30 a share for Carmike for a total payout of $1.1 billion, including the assumption of some Carmike debt, the companies said Thursday. The price is a nearly 20% premium to Carmike’s closing share price of $25.11 on Nasdaq.