AmFraser Securities in a Dec 1 research report says: “The Company manufactures and distributes nearly 300 types of treatment and non-treatment drugs for poultry and livestock in China. We arrive at a fair value (FV) of 28 cents using our earnings model, representing 13.2 and 10.3 times FY2009 and FY2010 forecasted earnings respectively. The higher valuation than other S-chips takes into consideration the potential high growth from the Biwei Antai and other acquisitions.
China Animal Healthcare rated accumulate
written by Editor on December 2nd, 2009 |
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