Skystar Bio Pharmaceuticals Seeing Growth Opportunities

Skystar Bio Pharmaceutical Company SKBI reported 2Q revenues of $9.8M and an EPS of $0.32, just above estimates for revenues and in-line with EPS estimates, according to Hudson Securities. Hudson forecasts potential increased sales in micro-organism and veterinary products as a wealthier China continues to demand higher quality and safer food product sources. Skystar's core target markets include third and fourth tier cities, which China is expected to have heavy influence over. Hudson Securities currently has a Buy rating and $14 price target for Skystar Bio Pharmaceutical Company, which closed yesterday at $6.60.