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Wednesday, 04/15/2009 9:32:52 AM

Wednesday, April 15, 2009 9:32:52 AM

Post# of 2594
related: 8:32AM Wonder Auto Tech: Brean Murray raises tgt to $7 following promising channel checks (WATG) 4.60 : Brean Murray raises their tgt for WATG to $7 from $5. The firm notes that they recently conducted a round of channel checks and have found that WATG's business has been positively impacted by the improving auto industry in China, especially in the months of February and March 2009. The firm expects the co to report 1Q09 sales and pro forma EPS above the firm's and the consensus estimates (consensus $0.14) and the co's own guidance and believes that mgmt could provide its 2Q09 guidance above the firm's and the consensus forecasts (consensus $0.17). Given its strong product offerings and solid financial condition, the firm believes that WATG should be able to take additional market share and should grow strongly over the next three years. Given the positive developments in the Chinese auto markets, the firm would recommend investors accumulate more shares at current levels.

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