Boston, MA 03/06/2014 (wallstreetpr) – Phoenix New Media Ltd ADR (NYSE:FENG) stock has jumped 11.7% in the last four weeks and has been shooting up consistently.
Phoenix New Media Ltd ADR (NYSE:FENG) has been soaring high since the last month and its stock, which had increased by 11.7% until March 5, 2014, in a short period of just four weeks and is currently trading quite high above the company’s 20 day SMA. Although analysts are uncertain whether it will be able to hold the trend for a long time, they still hope positive for the in-focus company.
The stock was up by over 10% in the last session of the day and settled at the high of $12, while touching a low of $10.93. A high volume of the shares are being traded. In a research report, analysts at JPMorgan Chase & Co. (NYSE:JPM) gave the stock a rating of “equal weight”. They also set a target price of $10.20, which shows a potential downside of 8.81% from its previous close.
From Neutral To Outperform
On the other hand, analysts at Zacks upgraded their rating on Phoenix New Media stock from “neutral” to “outperform”. They hold a price target of $10.90 for the stock.
The China based company’s shares traded down 0.99% and hit $10.99 on Wednesday, Feb 5. The company has a one year low and a one year high of $3.40 and $13.38, respectively.
Phoenix New Media Ltd ADR (NYSE:FENG), which provides content on an integrated platform across mobile, television channels and Internet in China, had posted its fourth quarter results for the year 2013 and full year financial results for 2013 on Feb 25, 2014. It had reported Earnings Per Share of $1.07 for the quarter which exceeded Thomas Reuters consensus estimate of $0.78. Analyst, on average, had forecasted EPs of as much as $3.90 for the company in the current fiscal year.
