FERROCHINA
FERROCHINA, dbs maintain BUY with target price $2.67 -Story FerroChina recently delivered a good set of 2Q08 results whereby earnings more than tripled to RMB230m on top line growth of 250% yoy to RMB3.5bn. Interim earnings were up by 186% yoy to RMB419m on revenue expansion of 206% yoy to RMB6.5bn. -Point This set of firm results was achieved on the back of the full consolidation of SuperbTeam¡¦s numbers; improved operational efficiencies and higher volumes. At the same time, FerroChin
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