This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Longwei Petroleum Announces MaxSoar's Updated Independent Coverage With "Outperform" Rating

TAIYUAN CITY, China, Nov. 19, 2012 /PRNewswire-FirstCall/ -- Longwei Petroleum Investment Holding Ltd. (NYSE MKT: LPH) ("Longwei" or the "Company"), an energy company engaged in the storage and distribution of finished petroleum products in the People's Republic of China ("PRC"), today announced MaxSoar Financial and Investments LLC ("MaxSoar") updated its independent coverage of Longwei with an "Outperform" rating and a fair stock value assessment of $5.18 to $5.87 per share.

MaxSoar's independent investment analysis team reviewed the financial results for the Company's first fiscal quarter ended September 30, 2012, released in its Form 10-Q on November 13, 2012.  "We witness strong and solid growth for the quarter in its product sales volume, revenues, operating income and net income from the results," MaxSoar's analysts stated.

MaxSoar further considered two major catalyst events for the Company in its first fiscal quarter. First, the Company's independent auditors completed a tax reconciliation of Longwei's PRC tax filings to the SAT and SAIC with its SEC filings done in accordance with U.S. GAAP. The results verified no material differences. Secondly, the Company completed its purchase of the Huajie Petroleum assets using its own cash flow to finance the purchase price of approximately US$110.6 million.  The new facility nearly doubles the Company's overall storage capacity to 220,000 metric tons.  The report also considers the strong macro-economic environment and outlook for the Company's service area within Shanxi Province in the PRC.

MaxSoar's analysts concluded, "Because the reported financial results for the first quarter did not include contribution from [the] Huajie facility (the facility started operating in October) and because there is no significant change in the market environment in which Longwei is running its business since our last update report published on October 11, 2012, we believe that the company's financial results for the first quarter of fiscal 2013 are consistent with our estimates in the last research report.  In light of the Company's current stock price level, we reaffirm our "Outperform" rating and $5.18 to $5.87 fair value assessment for the stock."

The updated research report can be accessed using the link below:

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,563.30 -317.06 -1.88%
S&P 500 1,930.67 -39.40 -2.00%
NASDAQ 4,369.7730 -93.1290 -2.09%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs