Longtop Financial Technologies Limited (fka LFT)

[momentum74]

LFT.$50 price target Jan.6 BMO Capital Markets reaffirmed Outperform rating and $50 price target on Longtop Financial Technologies Limited (NYSE:LFT).



Analyst Actions on Chinese Stocks: CADC, CCSC, CHL, CTRP, DQ, JASO, LDK, LFT ... (Jan 6, 2011)



BMO Capital Markets reaffirmed Outperform rating and $50 price target on Longtop Financial Technologies Limited (NYSE:LFT).

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=58497325&txt2find=lft


BMO Capital initiates coverage of the China software and services sector with three names, including Outperform ratings on Longtop (LFT 40.13) and VanceInfo (VIT 33.79) and a Market Perform rating on AsiaInfo (ASIA 20.59). Firm remains bullish about the growth trajectory for overall IT spending by Chinese enterprises given their continued efforts to modernize their IT infrastructure. Its bullish calls on Longtop and VanceInfo and our neutral call on AsiaInfo are rooted in a view that the 2011 IT spending outlook is stronger in the banking industry and for outsourced software services than it is in the wireless industry. In terms of near-term demand and bookings trends, firm's recent checks were most positive for Longtop. Target is 50 for LFT.


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