Wednesday January 2, 01:14 PM
Zhongpin initiated with "buy"
NEW YORK, January 2 (newratings.com) - Analysts at Brean Murray initiate coverage of Zhongpin Inc (ticker: HOGS) with a "buy" rating. The 12-month target price is set to $18.
In a research note published this morning, the analysts mention that
the company is poised to benefit from the growing demand for high-quality meat products in China and the speedy modernization of the country's meat processing industry. Zhongpin (ZHNP.OB - news) 's strong balance sheet and easy access to capital markets should enable the company to expand its market share through organic growth and acquisitions, the analysts add. Brean Murray expects Zhongpin's recent listing on the NASDAQ (NASDAQ: news) exchange and robust growth in the long run to lend upside to the company's share price.
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