Stock Name: ChinaAniH
Company Name: CHINA ANIMAL HEALTHCARE LTD.
Research House: DBS Vickers
It says “2011 should be an exciting year for CAL with projected 54% topline growth driven by contributions from Foot-Mouth Disease and Porcine Reproductive & Respiratory Syndrome vaccines,” adding it discounts an anticipated FY10 earnings dip as its mainly the results of non-recurring costs.
Company Name: CHINA ANIMAL HEALTHCARE LTD.
Research House: DBS Vickers
DBS Vickers raises China Animal Healthcare’s (EP4.SG) target to $0.45 from $0.41 and maintains a Buy rating on the stock; despite an expected fall in FY10 earnings the house forecasts strong FY11 earnings.
The house forecasts net profit of CNY116 million in FY10, and CNY251 million in FY11; the company reported net profit of CNY158 million in FY09.
It says “2011 should be an exciting year for CAL with projected 54% topline growth driven by contributions from Foot-Mouth Disease and Porcine Reproductive & Respiratory Syndrome vaccines,” adding it discounts an anticipated FY10 earnings dip as its mainly the results of non-recurring costs.
The house raises its target as it is now pegged to 13X blended FY11 and FY12 earnings, vs FY2011 previously. China Animal Healthcare is up 1.4% at $0.365.
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