Wedbush Morgan Upgraded CDC Corp. (CHINA) Two-Notches to Outperform
More News related to CHINA
- CDC Software Revises Full Year Profit Guidance Upward
- CDC (CHINA) Tops Q3 Views by 3c
- CDC Corporation Reports Net Income of $5.6 Million and $16.5 Million for the Third Quarter and First Nine Months, Respectively, in 2009 Compared to Net Loss of $10.0 Million and $33.1 Million for Comp
- CDC Software Reports $0.33 in Non-GAAP Earnings Per Share for the Third Quarter of 2009 and Operating Cash Flow of $19.2 Million, up over 200 Percent Year over Year
- CDC Software Completes Definitive Agreement to Acquire Truition, a Leading SaaS e-Commerce Software Provider
Wedbush Morgan upgraded CDC Corp. (Nasdaq: CHINA) two-notches from Undeperform to Outperform after announcing that is CDC Software nit filed for an IPO. The firm raised its price target from $1.50 to $2.50, which represents 28% upside from yesterday's close of $1.94.
The firm said, "The offering should provide better transparency into CDC Software' operations and create a more targeted investment vehicle for investors only interested in the enterprise software portion. Further, it should help better capitalize CDC Software to allow it to continue its acquisition strategy.
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CDC IPO on calendar
MLM on Jul 20, 2009 09:55 AMFor the week of 8/3 http://www.renaissancecapital.com/IPOHome/Calendars/OnDeck.aspx