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Needham Ups CNET Networks to Hold from Underperform

Cites the media company's quarterly results

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Needham upgraded CNET Networks (CNET) to hold from underperform, citing the media company's quarterly results.

Analyst Mark May upgraded the stock amid positive factors such as CNET Networks' control of its costs during the quarter. When taking the company's sale of its Computer Shopper magazine business into account, the analyst calculates that CNET's earnings per share guidance is below the Street consensus mean estimate, however. He cut his 45 cents 2006 earnings per share (EPS) estimate to 29 cents and his 55 cents 2007 estimate to 53 cents. He still upgrades his recommendation, as he believes 2006 expectations have been set at a reasonable level.

All of the views expressed in this research report accurately reflect the research analyst's personal views regarding any and all of the subject securities or issuers. No part of analyst compensation was, is or will be, directly or indirectly related to the specific recommendations or views expressed in this research report.
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