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Equities researchers at Pacific Crest increased their price objective on shares of Perfect World Co. (NASDAQ:PWRD) from $24.00 to $26.00 in a research report issued on Wednesday. The firm currently has an “outperform” rating on the stock. Pacific Crest’s price target would indicate a potential upside of 28.84% from the company’s current price.

The analysts wrote, “Q2 revenue of $149.6 million was slightly higher than our estimate of $147.0 million. Growth in Q2 was mainly driven by strength in key PC titles like Swordsman Online and DOTA2, along with continued strength in mobile titles. EPS of $0.52 was higher than our estimate of $0.48, but that was mainly driven by a lower effective tax rate in Q2. A reported tax rate of 6.2% versus our expectations of 17.5% led to an EPS benefit of $0.04.”

Shares of Perfect World Co. (NASDAQ:PWRD) traded up 4.41% during mid-day trading on Wednesday, hitting $21.07. The stock had a trading volume of 574,189 shares. Perfect World Co. has a one year low of $16.26 and a one year high of $26.25. The stock’s 50-day moving average is $20. and its 200-day moving average is $19.88. The company has a market cap of $1.044 billion and a price-to-earnings ratio of 10.12.

Perfect World Co. (NASDAQ:PWRD) last announced its earnings results on Monday, August 18th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.14. The company had revenue of $149.60 million for the quarter, compared to the consensus estimate of $150.56 million. Analysts expect that Perfect World Co. will post $2.00 EPS for the current fiscal year.

A number of other firms have also recently commented on PWRD. Analysts at Morgan Stanley upgraded shares of Perfect World Co. from an “equal weight” rating to an “overweight” rating in a research note on Monday. Separately, analysts at Citigroup Inc. initiated coverage on shares of Perfect World Co. in a research note on Friday, July 25th. They set a “neutral” rating and a $20.74 price target on the stock. Finally, analysts at Barclays cut their price target on shares of Perfect World Co. from $25.00 to $23.00 in a research note on Thursday, May 22nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Perfect World Co. presently has a consensus rating of “Buy” and an average target price of $24.44.

Perfect World Co, Ltd. is an online game developer and operator in People’s Republic of China. The Company primarily develops online games based on its game engines and game development platforms.

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