SOUTHGOBI-S (01878) maintained Outperform, TP cut to $47 by Stanchart
2012-07-06 14:55:51
   
Size
  
SOUTHGOBI-S (01878)'s second-quarter operation was affected as its licence was terminated by Inner Mongolia government, and the development in the third quarter would be limited as the Mongolian government won't convene new session of Parliament before September, Standard Chartered said in a report. SOUTHGOBI-S' earnings forecast was reduced from the original US$19 million to a loss of US$57 million to reflect low sales and high costs of the company. Despite the uncertainty about the takeover of SOUTHGOBI-S by CHALCO (02600), SOUTHGOBI-S was kept Outperform with target price lowered from $67.75 to $47. (y)





AAStocks Financial News
Fax: 852 2186 8286
Email: newsroom@aastocks.com
Web Site: www.aastocks.com

News Provided by AASTOCKS.com

Copyright(C) AASTOCKS.com Limited 2000. All rights reserved.
Disclaimer: AASTOCKS.com Ltd endeavors to ensure the accuracy and reliability of the information provided but does not guarantee its accuracy or reliability and accepts no liability (whether in tort or contract or otherwise) for any loss or damage arising from any inaccuracies or omissions.