Stock Name: XinRen
Company Name: XINREN ALUMINUM HOLDINGS LTD
DBS Vickers Securities in a Feb 8 research report says "Xinren Aluminum has secured an option to buy an initial 21% stake in China Leading International Group Limited (CLI), a growing primary aluminum producer in Xinjiang that has its own power and smelting plants.
"Additionally, Xinren has a second call option to buy another 30% stake in CLI after completing the purchase of the initial 21% stake.
"Xinren's is trading at an undemanding 4.8x FY12F PE and 1.0x FY12F P/BV despite the 17% rise in share price over the last 5 trading days and 23% over last 2 weeks. No changes to earnings at this juncture given lack of details. Target price of 65 cents. MAINTAIN BUY."
Company Name: XINREN ALUMINUM HOLDINGS LTD
| Research House: DBS Vickers | Price Call: BUY | Target Price: 0.65 |
DBS Vickers Securities in a Feb 8 research report says "Xinren Aluminum has secured an option to buy an initial 21% stake in China Leading International Group Limited (CLI), a growing primary aluminum producer in Xinjiang that has its own power and smelting plants.
"Additionally, Xinren has a second call option to buy another 30% stake in CLI after completing the purchase of the initial 21% stake.
"Xinren's is trading at an undemanding 4.8x FY12F PE and 1.0x FY12F P/BV despite the 17% rise in share price over the last 5 trading days and 23% over last 2 weeks. No changes to earnings at this juncture given lack of details. Target price of 65 cents. MAINTAIN BUY."
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