Tuesday, September 28, 2010

China Animal Healthcare

China Animal Healthcare: -1.5% at $0.33 in light trade, pausing for breather after last week's 8% gain, 20% rally since start of Sep. Recent run-up driven partly by hopes for better valuations as animal-vaccine maker seeks dual-listing in HK. Stock may have room to head higher if company successful in China govt tender exercise next month for supply of hand, foot and mouth disease vaccine….

CIMB keeps Buy, raises target to $0.52. Sees accumulation in the market, does not rule out possibility of other institutional names taking up stakes, following private equity group Blackstone US$50m investment in company in July.

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