ST. LOUIS, MO--(Marketwired - Dec 12, 2013) - Murphy Analytics (MA) has initiated coverage on Pingtan Marine Enterprise Ltd. (
PME supplies high-quality food products to China and is engaged in ocean fishing within the Indian Exclusive Economic Zone and the Arafura Sea of Indonesia.
Analyst Patrick Murphy notes in the report: "China's share in global fish consumption grew from 7% in 1961 to 35% in 2010 while average annual fish per capita fish consumption grew 6% annually from 1990 - 2009. The United Nations FAO fish price index has increased nearly 60% since 1997. The OECD expects fish price to increase by over 50% in nominal terms by 2022... Although the Company faces a range of operating risks, uncertainties and challenges, including PRC industry regulation, fuel pricing, potential resource and environmental disruptions, and a capital intensive business model, the dynamics of PME's target market create significant opportunity for the Company."
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Utilizing institutional caliber, fundamental analysis, Murphy Analytics helps readers become more informed about equities without extensive analyst coverage. Murphy Analytics LLC is owned by Patrick J. Murphy, who has nearly 20 years of capital markets experience, providing institutional investment and transaction analysis across a range of asset classes including microcap equities, commercial real estate debt and equity, municipal derivatives and public finance, venture capital, fixed income, CMBS and mortgage REIT's.
Disclosure: MA was paid $5,000 by a PME investor in advance of the publication of this report. Neither MA nor the analyst owns or trades the shares of covered companies. Statements herein may contain forward-looking statements and are subject to significant risks and uncertainties affecting results. MA provides no assurance as to the subject company's plans or ability to effect proposed actions and cannot project capabilities, intent, resources, or experience. This report is neither a solicitation to buy nor an offer to sell securities and is to be used for informational purposes only and should not be used as basis for investment decisions. MA is not an investment advisor or broker/dealer and this report does not provide investment advice.
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Patrick J. Murphy, CFA