SouFun Holdings Coverage Initiated by Analysts at JPMorgan Chase & Co. (SFUN)
Analysts at JPMorgan Chase & Co. initiated coverage on shares of SouFun Holdings (NASDAQ:SFUN) in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports. The firm set an “overweight” rating and a $49.00 price target on the stock. JPMorgan Chase & Co.’s price target would indicate a potential upside of 25.96% from the company’s current price.
The analysts wrote, “We initiate coverage on SouFun with an Overweight rating and a Jun-14 PT of USD49. SouFun is a leading real estate information and service platform in China. SouFun’s solid historical performance over the past few years lies in 1) its nationwide coverage on both supplier side (developers and properties) and demand side (potential property buyers), 2) ability to innovate products in accordance with market environment (e.g. SouFun card).”
SFUN has been the subject of a number of other recent research reports. Analysts at 86 Research initiated coverage on shares of SouFun Holdings in a research note to investors on Wednesday, July 24th. They set a “fair value” rating and a $36.00 price target on the stock. Analysts at Zacks upgraded shares of SouFun Holdings from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, July 3rd. They now have a $27.90 price target on the stock.
Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $33.11.
SouFun Holdings (NASDAQ:SFUN) traded up 4.83% during mid-day trading on Friday, hitting $40.78. 148,123 shares of the company’s stock traded hands. SouFun Holdings has a 52 week low of $12.82 and a 52 week high of $42.15. The stock has a 50-day moving average of $35.23 and a 200-day moving average of $27.82. The company has a market cap of $3.298 billion and a price-to-earnings ratio of 17.11.
SouFun Holdings (NASDAQ:SFUN) last announced its earnings results on Thursday, August 8th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.20. On average, analysts predict that SouFun Holdings will post $2.79 earnings per share for the current fiscal year.
SouFun Holdings Limited (NASDAQ:SFUN) operates the real estate Internet portal and home furnishing and improvement Website in China.
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