Fufeng Group (HKG:0546) Upgraded To Buy by Piper Jaffray Asia Securities Limited

  Hong Kong, China, Aug 15, 2009 - (ABN Newswire) - Piper Jaffray Asia Securities Limited upgraded Fufeng Group Limited (US:FFNGY)(HKG:0546) to BUY rating after meeting with its management. Projected the new target price is HK & #36;3.70 based on 8x FY09E P/E and volatility is high. They increased their FY09 and FY10 earning estimation by 74% and 86% to Fufeng as the lower production cost in the new Inner Mongolian plant.  

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