Brean Murray, Carret & Co. Lowers Wonder Auto PT To $14

This morning, Brean Murray, Carret & Co. said that it is lowering its price target on shares of Wonder Auto Technology, Inc. WATG. “Auto sales [in October] were 1,539K,” Brean Murray, Carret & Co. writes. “While October auto sales fell slightly MoM due to the October National Holiday, it still showed solid growth of 26% YoY. Therefore, we continue to expect robust growth for the overall auto industry in 4Q10 and full-year 2010.” Wonder Auto currently trades at $9.93. Brean Murray, Carret & Co.'s new price target is $14.