UPDATE: Barclays Raises China Kanghui Holdings' PT

According to a research report published this morning, Barclays has increased China Kanghui Holdings'

PT 26% to $25. In the report, Barclays commented, "Our new PT is derived by revising our 2012/13 earnings forecasts (4%/7%) and shifting our forward multiple of 22x from 2012E to 2013E earnings. This shift provides 25% potential upside. With Kanghui's international-quality corporate governance standards, rapidly growing orthopaedic segment and potential M&A upside (we expect the industry will consolidate), we reiterate our 1-OW rating on the stock." China Kanghui closed yesterday at $19.99.