However, its dependence on the iron and steel industry might slow the execution process of the projects, hampering its profitability. China Fire's second quarter earnings per share plunged to $0.20, missing the Zacks Estimate of $0.23.
Therefore, we are downgrading our recommendation on the stock to Underperform from Neutral, and reduce our price target to $6.50 from $6.75.
CHINA FIRE&SEC (CFSG): Free Stock Analysis Report
Zacks Investment Research
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.