Want Want closes above $3.13 for the first time to clear all previous high. There is nothing to stop the share price from shooting up now. Even if the Dow falls a little then Want Want will continue to go up.
I never believe analyst report because its estimates appear to be based on earning and company detail when clearly they write their reports after seeing good technical price movement from chart.
But anyway, UBS says Want Want is a leader in the China food sector. 2007 to 2010 earning growth is estimate to be 27.4%. Its 2007 earning growth is 20.8% when the sector is between 5.2% to 12.7%. Target price $3.60.
BTW the current PE is 29.63. In my previous article I have the wrong PE. So please disregard that. The current PE is modest and not too low either. Therefore the share price will not double within a couple of months.
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