Piper Jaffray Reiterates Overweight Rating on Perfect World Company

Piper Jaffray has published a research report on Perfect World Co (NASDAQ: PWRD)

In the report, Piper Jaffray wrote, "We continue to recommend PWRD shares on the heels of company's upbeat 2Q results, which were well above our estimates and Street consensus. 2Q revenue came in at $120.6mil, exceeding our estimate of $106.7mil due mainly to higher than expected online game revenue of $110.2mil (PJC estimate: $96.8mil)."

Piper Jaffray rated Perfect World Co an Overweight with a price target of $32.00. Perfect World Co closed Monday at $18.59.