look like is better then i expected.... can clear 64....and next level is
67c
not looking good yet ... better to wait and see strategy ....
Here the snap shot of the pdf.....some upside there ...was testing
64c few days back...this time....should be able to break....
31 October 2007 Jiutian Chemical Group Limited (JIUC SP / JUTN.SI, OUTPERFORM - Maintained, S$0.61 - Target: S$0.75) Company visit - Re-rating catalysts ahead by Jessie LAI We visited Jiutian?s new DMF plant in China recently and witnessed the plant?s fast ramp-up. We also saw the construction of the new methanol plant, on track for trial production by mid-2008. In view of higher methanol prices recently, we expect margins to decline over the next three quarters before the methanol plant comes on stream. We have reduced our FY07-08 EPS forecasts by 12-29% to factor in lower ASP assumptions, a slower ramp for the methanol plant and higher methanol prices. However, our DCF-derived target price has been raised from S$0.63 to S$0.75 (WACC 14%, LTG 1.5%) as we roll forward our valuation basis to CY08. Maintain Outperform for its strong earnings growth, undemanding valuations vs. industry peers and M&A prospects.
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