This Day On The Street
Continue to site
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

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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.18 0.00%
FB $117.43 0.00%
GOOG $692.36 0.00%
TSLA $232.32 0.00%
YHOO $36.01 0.00%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs