Roth Capital Downgrades China BAK Battery (CBAK) to Hold
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Roth Capital downgrades China BAK Battery (Nasdaq: CBAK) from Buy to Hold. Price targe increased from $1.50 to $3.
China BAK Battery, Inc. is engaged in manufacturing rechargeable lithium-based battery cells. It produces battery cells that are the principal component of rechargeable batteries used to power applications, such as cellular phones, notebook computers, portable consumer electronics, such as digital cameras, portable media players, portable gaming devices and personal digital assistants (PDA), and other applications, such as cordless power tools, mining lamps, light electric vehicles and hybrid electric vehicles.
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CBAK Downgrade
richardusn@aol.com on May 2, 2009 08:47 AMThis company is building a 100000 sqft expansion to their current battery production facility and will be a major competitor for hybrid electric battery production. The stock was at $8. sh less than a year ago and will double that within the next year. They have solid management and knowledge in battery production of every size conceivable. Your downgrade is severely misjudged.