Morgan Stanley Reports Fundamental View On Mindray Not Affected By CFO Change

In a report published by Morgan Stanley, its fundamental view on Mindray MR is not affected by CFO change. Morgan Stanley said that it would regard any sell-off in Mindray shares in response to the CFO change as a good buying opportunity. “Although the announcement may be a surprise and our sense is that the final decision was made recently, we don't regard this as troubling. Mr Ede CFO will sign the 2010 annual reports, remain as a director of the board and see through the SEC filing, which is should be completed by late April. 2011 guidance has been approved by the board. The company stated that management turnover is a regular part of business and we see no other major turnover on the near-term horizon. Recall some investors were concerned at the departure of the previous CFO and auditor change a few years ago but both proved benign events.” Mindray closed yesterday at $26.92.