Forbes fetes Focus Media

While investors and observers wait on baited breath over the ordeal at Focus Media, at least one publication is bullish on the stock.

Earlier in the week, Shlomo Reifman of Forbes.com listed Focus Media as a strong China pick in terms of EPS growth and forward P/E. With EPS growth at 37% and a forward P/E of 23, FMCN rated well with a group that includes China Petroleum and Chemical (SNP), PetroChina (PTR), Suntech Power (STP) and The9 (NCTY).

Not bad comany, but the article won't do much to alleviate the nerves of FMCN longs. The stock has fallen from a high of $52 in early June to $39.