Rodman & Renshaw Initiates Coverage on China Direct (CDS) with an Outperform
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Rodman & Renshaw initiates coverage on China Direct Inc. (Nasdaq: CDS) with an Outperform rating. Price target $6.
Rodman analyst says, "We conclude that CDS business model has positioned it to capitalize on the industrial and economic expansion in China. We anticipate management to employ a focused strategy of consolidating its position as the dominant Chinese magnesium producer and distributor. Investors could also benefit from managements entry into new business verticals...With the stock trading under its book value of ~$3.00 per share, we believe this is an opportunity for investors to build a position."
China Direct, Inc. is a management and advisory services organization, which owns and consults business entities operating in the People’s Republic of China.
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