China Minzhong

China Minzhong: CIMB initiates Outperform with $1.52 target price based on 7.5X FY11 P/E. Tips EPS CAGR of 28% over FY11-13 for vegetables processor, driven by higher selling prices, volumes. Mgmt's plan to acquire more land for cultivation should support growth while diversification of products to higher-margin ones expected to boost profits. Potential catalysts include additional land acqs & good quarterly results.