BofA/Merrill Resumes Focus Media (FMCN) at Buy, $34 Price Target

Shares of Focus Media Holding (NASDAQ: FMCN) jumped well into positive territory just ahead of 2pm ET amid resumed coverage at BofA Merrill with a Buy rating and $34 price target.

With the stock up nearly 5 percent to $21.35 at last check, BofA's new price target represents potential upside of about 59 percent.

The new buy recommendation comes as shares of Focus Media have risen nearly 40 percent since November 18th when the stock plunged almost 40 percent following a negative article from the infamous Muddy Waters.

For an analyst ratings summary and ratings history on Focus Media Holding click here. For more ratings news on Focus Media Holding click here.

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