<ET Net News Agency, 15 December 2010> JP Morgan said Yurun's (01068) share price is
down 11.3% since the placement on November 4, noting rising food CPI resulted in negative
sentiment for the entire food and beverage sector in China.
But the house believes the recent share price weakness offers a good buying opportunity
and reiterated its "overweight" rating on Yurun, with a price target of HK$38.
JPM said the market may have misunderstood that rising hog prices and price intervention
by the government on frozen pork are negative for Yurun. The house said Yurun aims for
stable-to-higher profit per ton and a rising hog price environment is actually positive
for the company to expand profit per ton with less resistance from customers.
15/12/2010 15:11
[I-bank focus]JPM says it's time to buy Yurun (01068)
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