Global Hunter Securities Upgrades Zhongpin To Accumulate From Neutral (HOGS)
Global Hunter Securities upgraded Zhongpin (NASDAQ: HOGS) from Neutral to Accumulate in a research report published today. Global Hunter Securities also increased its Zhongpin price target from $15 to $18.
In the report, Global Hunter Securities states, "The company announced this morning that it has signed what it calls a “strategic cooperation agreement” with China Construction Bank which will provide credit access up to RMB 10B (~$150MM) in growth capital. In our view, today's announcement greatly reduces the risk of any further near-term dilution and serves as another material form of institutional sponsorship."
Shares of Zhongpin were trading at $15.62 at the time of posting, up 9.92% from Thursday's market close.
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