NEW YORK ( TheStreet) -- Emerging market ADRs had a great outing this week with our recommended stocks from the previous week gaining sharply to outperform both domestic and foreign bourses.
During the week,
Dow Jones Industrial Average
was up 1.9%, and China's Shanghai Composite Index added 2.9%, while India's Nifty was up 2.2%.
Solarfun Power Holdings
, a manufacturer of silicon ingots, photovoltaic (PV) cells and PV modules in China zoomed 27% during the last one week. Since
our recommendation dated May 25
, the stock has gained 19%.
On May 26, the company reported revenues of $216.2 million for the quarter ended March, a sequential increase of 17.8% and a year-over-year increase of 115.7%. Earnings increased multiple times to 35 cents per share compared to 3 cents a share in the fourth quarter of 2009 and a loss of 2 cents per share in the same quarter last year. The reported earnings were far ahead of the consensus estimate of 19 cents per share.
China's automobile sector is another space we are bullish on, as reflected in
our long-term view
China Automotive Systems
(CAAS - Get Report)
, a manufacturer of power steering systems and other automobile components, gained 22.3% during the past one week. The stock's 5-day average trading volume was up 40% to 895,922 shares compared to the 52-week average of 637,639 shares. On May 25, Oppenheimer & Co rated the stock a market outperformer with a price target of $25, implying an upside of about 30% over current levels.
Our other auto parts and equipment maker picks included
Sorl Auto Parts
(SORL - Get Report)
Wonder Auto Technology
, which have gained 14.7% and 14.3%, respectively. On May 24, Roth Capital Partners gave buy ratings to both of the companies with price targets of $13 and $50, respectively.
China's food and agriculture stocks recommended in
our report dated May 24
logged in handsome gains as well.
, engaged in the animal nutrition and commercial hog producing businesses, gained 15.2% during the week. On May 26, Rodman & Renshaw rated the stock a market outperformer with price target of $5, implying a 43% upside over current levels.
(SEED - Get Report)
, a technology-focused supplier of crop seeds in China, appreciated 13.5% over the week. Rodman & Renshaw rated the stock a market outperformer with a price target of $17, representing a more than 100% upside over current levels.