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May 23, 2014
13:14 EDTCMGEChina Mobile Games price target lowered to $27 from $45 at Brean Capital
Brean Capital cut its price target on China Mobile Games, citing lower margin assumptions due to an unfavorable mix shift. However, the firm thinks the company's Q1 results were solid and expects it to benefit from strong growth domestically and its recent move into overseas markets. The firm keeps a Buy rating on the shares.
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