CPHI could have nice catalyst as they are expecting SFDA manufacturing approval for generic Crestor any day. A small % of the market for this drug in China will result in very large 2012 numbers. With .44 EPS for 2011, forward PE is likely lower than 1 if we see quick approval.
I really like it in the .55 range. Four big institutions holding but one (maybe two) exiting position is likely the reason for current price with very little retail interest in China stocks. Being able to explain a dump in China names is very important to me. Settlement trade of 1.2 million shares a couple minutes after closing on 4/5 was likely the final big dump from one of the big holders.
With some decent buying pressure, this could really move (unless one of the other big holders is still selling). As always, with China names, caution is advised.
I find the risk to reward nice in this range.
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