Oppenheimer Reiterates Outperform on Wonder Auto Technology (WATG)

Oppenheimer is out with a research report this morning, where it reiterates its Outperform rating on Wonder Auto Technology WATG; it has a $14.00 price target on the stock. The Oppenheimer analysts cited WATG's better than expected Q3 sales and worse than expected EPS for revising their estimates (revenues higher, EPS lower). The analysts noted that management's guidance also suggested faster growth and higher expenses in 4Q10. Their research indicates that China's auto sales growth has reaccelerated over the past three months.