Piper Jaffray Downgrades Gushan Environmental (GU) to Neutral
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Piper Jaffray downgrades Gushan Environmental Energy (NYSE: GU) from Buy to Neutral but raises its price target from $13.50 to $14, citing valuation.
The firm notes that shares of Gushan have gone up about 50% in the last two trading days, primarily due to diesel shortages in China and investor confidence.
Piper mentions Gushan's recent conference call where the Company's President, Wai Sun Kwong, indicates that he saw substantial investor interest on his recent marketing trip to Boston, New York and London.
Gushan Environmental Energy Limited and its subsidiaries engage in the production and distribution of bio-diesel and related products in the People's Republic of China. [BCS]
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