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Rodman & Renshaw is out with its report today on SORL Auto Parts
SORL, lowering its PT to $10.
In its report, Rodman & Renshaw writes, "In line with our lowered financial projections we are also lowering our price target on SORL from $18.00 to $10.00. Our new price target translates into a P/E multiple of ~10x with respect to our EPS estimates for FY12."
Rodman & Renshaw maintains Market Outperform on SORL.
Shares of SORL closed Tuesday at $3.50, down 7.89% from Monday's close.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsAuto Parts & EquipmentConsumer DiscretionaryRodman & Renshaw
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