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AirMedia makes strategic acquisitions of two airport gate bridge advertising companies
ADR BUY We reiterated the AirMedia Group Inc. (AMCN) ADR a BUY in our update report dated 26 June 2008.
Since then the ADR has declined 4.7%. We believe this decline is largely is on account of the
Fundamental Stock weakness witnessed in global bourses over concerns of an economic slowdown triggered by US
Ticker: AMCN recessionary indicators and rapidly increasing fuel prices. However we believe the acquisition of
Target price: US$20.90 Direct access to the full report free of charge at
Excel Lead International Ltd (Excel Lead) and Flying Dragon Media Advertising Co. Ltd (Flying
Dragon) will boost the company’s top-line growth and aid long-term profitability. Therefore based on
Current price: US$14.00 http://www.iirgroup.com/researchoracle/viewreport/show/20230
fundamental factors we maintain our BUY rating for the ADR.
Price change since (4.76%)
our last report We will reassess our estimates and target price for the ADR in our next update report
European BUY We continue to rate the European ADR a BUY as we continue to expect a positive currency impact
in the medium to long term.
ADR1
Ticker: AMCNy.F
Target price: €15.48
Current price: €8.78
Price change since 3.78%
We will reassess our estimates and target price for the ADR in our next update report.
our last report
Footnotes
1 The AMCNy.F stock has low average daily trading volume of below US$1 mn since it was listed in November 2007.
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