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UPDATE: Canaccord Genuity Suspends Coverage on China Kanghui Holdings Following Acquisition

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Canaccord Genuity suspended coverage on China Kanghui Holdings (NYSE: KH) as it believes the company is no longer trading on fundamentals following the announced deal with Medtronic (NYSE: MDT).

Canaccord Genuity commented, "After further contemplation and discussions with management, we would not expect another bid to materialize. We believe the transaction is likely to be completed in a few months given that China Kanghui is domiciled in the Cayman Islands, which removes the need for regulatory approval. Therefore, we are suspending our rating and price target as Kanghui's shares are no longer trading on fundamentals."

China Kanghui Holdings closed at $30.45 on Thursday.

Latest Ratings for KH

DateFirmActionFromTo
Sep 2012CanaccordSuspends rating on
Sep 2012OppenheimerMaintainsOutperform
Sep 2012CanaccordMaintainsBuy

View More Analyst Ratings for KH
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color News Termination M&A Intraday Update Analyst Ratings

 

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