China Growth Stocks

[pmony5]

YONG Yongye Intl. positive cash flow announcement implies above-expectation 4Q10 performance - Rodman and Renshaw (8.48 +0.31)Rodman and Renshaw notes YONG announced this morning that it achieved positive cash flow from operations for 4Q10 as well as accounts receivable improvement as of year-end 2010. Firm says they are encouraged by this announcement as they believe it will address some of the ongoing Street mumbling regarding the company's cash flow. Firm says perhaps more interestingly, the announcement implies that the company realized between $26 to $27 mln of revenue for 4Q10, which is significantly higher than Street consensus of $17.9 mln as well as their est of $18.2 mln, which were set based on the company's guidance at the end of Q3. Firm reits their Outperform and $16 tgt.