Analyst Likes The9's Prospects (NCTY)

Jim Sun of Evolution Securities China released a note to clients earlier today on The9 (ticker: NCTY). Key extracts:

Rating and Valuation. We are maintaining our BUY rating, and increasing our target price from US$24 to US$25, which represents 7.2x our FY07 EBITDA/share estimate and 10.1x our FY07 ex