Equities research analysts at Maxim Group boosted their price target on shares of ZHONGPIN INC. (NASDAQ: HOGS) from $18.00 to $20.00 in a research note to investors on Tuesday. The analysts currently have a “buy” rating on the stock
.Morgan Joseph Reiterates a 'Buy' on Zhongpin (HOGS); Gross Profit Hits All-Time High on Strong Pricing & Spreads 9:36 am ET 05/10/2011- StreetInsider Morgan Joseph reiterates a 'Buy' on Zhongpin (NASDAQ: HOGS), PT $23. Morgan analyst says, "Now that HOGS has raised enough capital, in our opinion, to finance its current expansion plans, we think investors will once again focus on company fundamentals, which have been very strong over the past two quarters. We believe this strength will continue based on current robust pork prices and pork spreads." "We are increasing our 2Q11 EPS forecast by $0.02, to $0.45, to reflect stronger projected pricing and spreads. Based on a slightly higher projected share count, our 2011 and 2012 EPS estimates each drop by $0.05, to $1.90 and $2.35, respectively." For more ratings news on Zhongpin click here and for the rating history of Zhongpin click here. Shares of Zhongpin closed at $16.02 yesterday, with a 52 week range of $10.42-$25.00. .