2. China Information Technology (CNIT) specializes in geographic information systems (GIS), digital public security and hospital information systems. The company conducts its operations in almost 30 provinces and provincial cities in China. The stock added 2.1% last week.
The single analyst covering the stock rated it a buy. Analysts polled by Bloomberg expect the stock to gain an average 368.8% to $9 in the next 12 months.
Last week, the company accumulated gains as it signed a new contract worth $3.5 million with the Shenzhen Traffic Police Bureau for providing traffic management solutions. The Shenzhen Traffic Bureau has been CNIT's key customer for several years. Meanwhile, new contracts in the first quarter totaled $36 million, with GIS technology accounting for the major portion of the business.
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