Stock Name: ChinaMinzhong
Company Name: CHINA MINZHONG FOOD CORP LTD
Research House: JP Morgan Chase
Company Name: CHINA MINZHONG FOOD CORP LTD
Research House: JP Morgan Chase
JPMorgan has raised its target price for Singapore-listed vegetable producer China Minzhong (CMFC.SI) to $2.00 from $1.70 and kept its overweight rating.
JPMorgan has raised its net profit estimates by 3.6% for this year, and by 7.5% for 2012, as it raised its gross profit margin assumptions for processed and fresh vegetables.
JPMorgan has raised its net profit estimates by 3.6% for this year, and by 7.5% for 2012, as it raised its gross profit margin assumptions for processed and fresh vegetables.
The brokerage noted that China Minzhong's strategies of focusing on high-margin vegetable products and expanding its processing capacity rapidly sets it apart from competitors.
At 9:45 a.m., shares of China Minzhong were 0.64% higher at $1.57, and have gained 15% since the start of the year.
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