1. General Steel Holdings (GSI) shares jumped in May after the Chinese company reported a first-quarter loss of 11 cents a share on revenue of $453 million, which was better than the consensus for a loss of 14 cents a share and revenue of $416 million. General Steel will post second-quarter results on Aug. 6, and the average of two analyst estimates calls for a loss of 6 cents a share on revenue of $491.2 million. On May 14, General Steel said it acquired a majority stake in one of Shanxi Meijin Energy Group's businesses for $64.7 million in cash and stock.
Share Price: $2.89 (July 30 close)
Average Price Target: $19, based on two analyst price targets of $34 and $4 dating to May 28. The average target represents a 551% rally from where the stock currently trades.2010 Performance: -34.5% Analysts' View: Three research firms, or 60% of those covering the stock, rate General Steel a "buy." They include Rodman & Renshaw and Caris & Co., which have price targets of $4 and $34, respectively. Hudson Securities analyst Julie Chen has a "hold" rating on the stock, "due to lack of visibility into commodity pricing which has created gross margin volatility industry-wide." -- Written by Robert Holmes in Boston.
Twitter and become a fan of TheStreet.com on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV