Stock Name: Swing Media
Company Name: SWING MEDIA TECHNOLOGY GRP LTD
DMG & Partners Research in a May 17 research report says: "Swing Media has just completed the acquisition of Shanghai Hui Yang’s solar installation business in China for a consideration of RMB6 million. "Though we expect this to take place earlier, the fact that the share price traded below the company’s par value restricted the group from issuing new shares in order to complete this purchase until the recent capital reorganisation exercise. "Going forward, we favour the group’s new solar installation business as China’s domestic consumption for solar energy is expected to be robust following the drastic decline in solar panel prices. A higher target price of 24.4 cents based on 0.5x (industry average) FY13 P/B. MAINTAIN BUY."
Company Name: SWING MEDIA TECHNOLOGY GRP LTD
| Research House: DMG | Price Call: BUY | Target Price: 0.244 |
DMG & Partners Research in a May 17 research report says: "Swing Media has just completed the acquisition of Shanghai Hui Yang’s solar installation business in China for a consideration of RMB6 million. "Though we expect this to take place earlier, the fact that the share price traded below the company’s par value restricted the group from issuing new shares in order to complete this purchase until the recent capital reorganisation exercise. "Going forward, we favour the group’s new solar installation business as China’s domestic consumption for solar energy is expected to be robust following the drastic decline in solar panel prices. A higher target price of 24.4 cents based on 0.5x (industry average) FY13 P/B. MAINTAIN BUY."
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