Rodman & Renshaw Reiterates Market Perform on Agfeed Industries

Rodman & Renshaw is out with its report today on Agfeed Industries

, reiterating Market Perform. In a note to clients, Rodman & Renshaw writes, "AgFeed is currently trading at 17.5x our FY11 FD EPS forecast of $0.08 and 3.4x our FY12 FD EPS forecast of $0.43. We continue to view the stock's valuation as attractive and reiterate our Market Outperform rating and a $3.50 price target based on the shares attaining a P/E level of 8x our FY12 FD EPS estimate of $0.43." Shares of FEED closed Friday at $1.47, up 11.36% from Thursday's close.