Wonder Auto Technology (WATG) Higher on Positive Analyst Comments
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Shares of Chinese auto-parts maker, Wonder Auto Technology (Nasdaq: WATG), are higher today following positive comments from an analyst at Brean Murray.
The analyst raised revenue and earnings estimates for Wonder Auto, citing improved visibility in end-market demand and continued penetration into international markets. The firm said 2008 revenue guidance of $140 million in achievable - with room for upside. The firm expects EPS CAGR of 30%+ from 2007 to 2010.
Brean Murray reiterated their Buy rating on Wonder Auto and raised their price target from $13 to $16.
Shares of Wonder Auto are up nearly 10% to $12.15 today.
Wonder Auto sells automotive electrical parts and suspension products in China. The company is number two in China for alternators and starters.
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