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but i'm wary.. profits and cash flow not the same.. chinamilk is one of the 6 cos. mentioned by SCMP that cannot pay up their debts.. i'll sit on the sideline for a while...
SmartBear ( Date: 30-May-2008 23:31) Posted:
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GOOD GOOD
_________________
_Jason Harding
JasonHarding@katechengines.com
[url=http://nhakhoanhantam.com]JasonHarding@yahoo.com[/url]
0812 GMT [Dow Jones] China Milk (G86.SG) heads higher in afternoon trade after company announces 27% rise in FY08 net profit to CNY480.6 million at midday break; stock +10.7% in active trade at S$0.725. Results came in ahead of Morgan Stanley forecast for net profit of CNY409 million; broker has Overweight rating, S$1.40 target price. Company says in statement strong performance due to higher prices for raw milk, improved productivity on back of larger herd size. Company says its prospects are promising, "spurred by rising milk prices, the dairy industry in China is expected to continue with its vigorous growth." 2008/05/30
my charts show a double resistance at 0.79
which means there are more room for upside... hope i'm right...
ya man.. its about time liao....
load up on this baby~~~~~~~~~~~
GOOD GOOD CHINA STOCK UP UP !!!!
Could it be due to the co announcd today that ?
China Milk’s FY2008 net profit leaps 27.0% to RMB480.6 million spurred by rising milk prices
i think cos the profit results were good
sterny ( Date: 30-May-2008 17:10) Posted:
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This is insane. Super milk, fresh once again. Wondering wat on earth happened to move this stock so high suddenly? Super big milky tsunami! Congrats on those who rode the wave....
Btw, anyone knows currently is there any price target by analysts for China Milk?
Only 3 counters went up today - ARA, China Milk & Creative
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| SINGAPORE (Thomson Financial) - Morgan Stanley said Friday China's agribusiness
sector is attractive as the global imbalance on food supply and demand creates strong growth opportunities for Singapore-listed companies like China Milk Products Group and China XLX as well as China Green (Holdings) in Hong Kong. The investment bank has an "overweight" rating on China Milk, a company that produces and sells pedigree bull semen and pedigree dairy cow embryos, with a target price of 2.00 Singapore dollars and on China XLX, a maker of fertilizers, with a target of 1.61 dollars. Morgan Stanley has an "overweight" call on China Green, an investment holding company with interests in producing vegetables and fruits on the mainland, with a target price of 11.12 Hong Kong dollars. "We believe the imbalance between rising food demand and limited food resources is accelerating...This is creating significant growth opportunities for companies in the value chain that are able to raise productivity and increase resources," Morgan Stanley said in a note to clients. "Overall, we expect a 25-59 percent upside potential to current stock price levels, and believe the market has not fully reflected the growth opportunities in the Asian agribusiness industry," it said. China Milk is considered one of the best plays on food supply constraints. Morgan Stanley said that the company's strong business model has yet to be fully reflected in the stock market. "We expect strong earnings momentum to serve as a key driver for further upside potential in stock price performance," it said. China XLX, on the other hand, is considered undervalued. Industry consolidation and favorable regulatory changes should drive up the company's share price in the future, said Morgan Stanley. "We see China XLX among the best cost managers in the Chinese coal-based fertilizer (urea) industry, driven by large scale, superior technology upgrade capabilities, and strategic location to both raw materials and fertilizer demand," it said. At 3.35 pm (0735 GMT), China Milk was up 3 cents or 2.5 percent at 1.23 Singapore dollars while China XLX was down 1 cent at 1.22 dollars. In Hong Kong, China Green was down 5 cents or 0.6 percent at 8.45 Hong Kong dollars |
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