BROKER CALL China's 51job (NASDAQ:JOBS) target cut after Monster deal for ChinaHR.com - GS

Goldman Sachs said it has slashed its price target on 51job Inc (NASDAQ:JOBS) to 8 usd from 14 usd following Monster Worldwide Inc's acquisition of the remaining 55 pct stake in ChinaHR.com.

The move will raise competition in China's online recruitment market and put 51job under pressure, it noted .

"On top of the softer macro environment, 51job will likely face further intensifying competition, and see further margin pressures as it is compelled to spend more on marketing and promotional activities in order to preserve its market share," Goldman Sachs said in a note.

Goldman Sachs is maintaining a "sell" call on US-listed 51job.

51job's shares closed at 9.12 usd yesterday, down 2.88 pct.