UPDATE: Rodman & Renshaw Raises PT on Hollysys Automation Technologies to $14

Rodman & Renshaw is out with its report today on Hollysys Automation Technologies HOLI, raising its PT from $12 to $14. In a note to clients, Rodman & Renshaw writes, "We reiterate our Market Outperform rating, raising our price target from $12 to $14, based on the shares attaining a P/E multiple of 13x our new FD EPS estimate of $1.07." At the time of posting, shares of HOLI were trading pre-market at $10.15, up 3.15% from Tuesday's close.