Brean Murray Carret & Co. Starts China Gerui Advanced Materials (CHOP) at Buy

Brean Murray Carret & Co. initiates coverage on China Gerui Advanced Materials Group Ltd (NASDAQ: CHOP) with a Buy. PT $6.00.

Brean analyst says, "China Gerui is a leading player of converting hot-rolled steel into high-precision, ultra-thin, high-strength and high-margin, customized, cold-rolled steel products. We think the company is well positioned to outperform its peers given its market-leader status, expanding capacity, nationwide customer base, and the potential for increased operating leverage. We expect CHOP’s FY12 revenue and EPS to grow 26% YoY, to reach $434M and $1.46, respectively."

For an analyst ratings summary and ratings history on China Gerui Advanced Materials Group Ltd click here. For more ratings news on China Gerui Advanced Materials Group Ltd click here.

Shares of China Gerui Advanced Materials Group Ltd closed at $3.78 yesterday.

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