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Top 10 Emerging Markets Stocks to Watch

3. Focus Media Holding (FMCN) is a multi-platform digital media company in China. The networks operated by the company include liquid crystal display, or LCD, Internet advertising services and billboard among others. The stock has gained 21% during the past month.

Developments: On Aug. 23, the company reported second-quarter earnings of 17 cents per share as against a loss of 18 cents per share reported in the year-ago quarter. According to Nielsen Research, the Chinese ad market grew 15% year-on-year during the first half of 2010. On Sept. 14, Macquarie reassigned an outperform rating to the stock with a price target of $25, implying a 14% upside over current levels.

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