Murray Securities has great reputation in WS as a honest broker company and they initiated CMFO with BUY recommendation. ( on 6/1/2010). Brean Murray was rated as 11th best broker in 2009 by Barron's magazine
Brean Murray Initiates Coverage on China Marine Food Group (CMFO) with a Buy; Solid Performer with Near-Term Catalysts June 1, 2010 8:27 AM EDT Brean Murray initiates coverage on China Marine Food Group (NYSE Amex: CMFO) with a Buy rating. PT $9.
Brean analyst says, "We base our recommendation on China's rising appetite for healthy, covenient seafood snacks and beverages, the company's strategic expansion into new, high-margin segments, strong growth prospects, solid mgmt team and prudent local gov't relationships, as well as an attractive valuation."
To see all the upgrades/downgrades on shares of CMFO, visit our Analyst Ratings page.
Global Hunter Securities Initiates Coverage of China Marine Food Group Ltd (CMFO) with a Buy; Expected Continued Growth
Global Hunter Securities initiates coverage of China Marine Food Group Limited (NYSE Amex: CMFO) with a Buy rating. Price target $10
Global analyst says, "China Marine Food Group is a seafood-based snack and beverage company targeting domestic consumers in China. Its seafood snack business has 15 years of operating history, a strong brand name, solid relationships with key suppliers and a relatively extensive distribution network. Its strategic location at one of the largest fishing ports in Southeast China ensures low cost and stable supply of fresh seafood raw materials. We expect the company’s new revenue streams - algae drink and cold storage - to bring new dimensions of growth. Going forward, we expect continued growth through increased production capacity, distribution channel expansion, and acquisitions. The company also has a healthy balance sheet, strong cash flow and sustained profitability. Shares are trading at 9x our ‘10 EPS estimate and 6x our ’11 estimate, which we believe is attractive."