Progressive Stocks

[Huggy Bear]

MY. this is not exactly new news, but the official announcement was this week and here's the PR with the details:

http://finance.yahoo.com/news/China-Ming-Yang-Wins-200MW-prnews-2506368331.html?x=0&.v=1

This is really big for MY because it signals that their 3MW land turbines may become as preferred as their 1 MW offshore models already are.

They are so backlogged now - I would love to have their problem with my company for the next couple of years.

Many more wind farms will be going up in china over the next 5 years, under their recent 5 year plan there is beaucoups of money slated for renewable energy, and MY will win as many as they can handle IMO. They seem to have the preferred products, with very good tech support.

Looking at numbers - Last Q was .025 EPS, and by the company's projections for 2011 I have a target base of 1.40 EPS. So applying a forward P/E from todays close that would be 7.2

Could be higher, depends on if they can increase production or increase margins on existing capacity as they get better at tweaking this relatively new industry.

I think such a large and well capitalized company like this trading on the NYSE deserves a way higher P/E than 7. 15 minimum and could be much higher when sentiment flows back into this sector.

I'm adding as much as possible between 10 and 11 while I still can - one day could blow this right above 11 easily anyday now.

malc