Global Hunter Securities Downgrades Zhongpin
Global Hunter Securities downgraded Zhongpin (NASDAQ: HOGS) from Accumulate to Neutral in a research report published today.
In the report, Global Hunter Securities states, "In addition to the processing capacity build out the company has also expressed its desire to move into upstream production, expanding into animal husbandry, which introduces a new set of capital needs and operational risks. Given the number and magnitude of the various projects, we find it too difficult to gain adequate transparency to be comfortable enough to maintain an Accumulate rating."
Shares of Zhongpin were trading at $12/43 at the time of posting, down 5.48% from Wednesday's market close.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.