Wunderlich Securities Reiterates Buy, $14 Target on Ambow Education
Wunderlich Securities maintains its Buy rating and $14 price target on Ambow Education (NYSE: AMBO) on a strong Q4 and other indications pointing to a favorable valuation.
Wunderlich Securities says, "We expect strong results and an optimistic outlook for 2012 when Ambow Education (AMBO) reports its Q4 earnings. The company's recent divestiture of slower-growing and non-profitable assets should make robust organic earnings growth even more evident to investors going forward, as the company targets 25% organic growth in 2012. Additionally, above-market-price purchases by Barings Private Equity and CEO Jin Huang support our contention that prospects for Ambow are bright and that AMBO shares are currently undervalued."
AMBO closed at $7 per share on Wednesday.
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