Changtian Plastics & Chemical - Thinly traded counter, however Net Profit for the plastic and chemical manufacturer for 1H10 was at $17.78m vs FY09 $27.2m, with EPS at $0.03. Annualizing EPS would place FY10 PE at 3.16x vs historical average of 3.51x. Pegging current estimated valuations to its P/E average would represent a TP of $0.21. Co. is seeking opportunities to expand manufacturing capacity…..
Technically, stock looks weak with RSI moving downwards to the Oversold region, near-term support level at $0.18, followed by $0.17.
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