UPDATE: Mirae Asset Lowers PT on Perfect World Company from $28 to $27

Mirae Asset has published a research report on Perfect World (NASDAQ: PWRD) lowering the price target.

In the report, Mirae Assets wrote, "Perfect World's (PWRD) 2Q results and 3Q guidance were in line with our expectations. Top line grew 8% q-q and 31% y-y, beating our estimate by 1% and consensus by 11%. Company guided 3Q sequential growth of -3% to 3%, comparing to our estimate of -5% q-q. Overseas subsidiaries recorded a 15% q-q and 42% y-y growth, which is one time in nature."

Mirae Assets rated Perfect World a BUY with a price target lowered from $28.00 to $27.00. Perfect World closed Monday at $18.60.