Wonder Auto Technology climbs to 52-week high on analyst upgrade
Wonder Auto Technology, Inc. (Nasdaq: WATG) shot to a 52-week high after investment bank Brean Murray reiterated a “buy” rating on the China-based maker of electrical auto parts. The investment firm also raised its price target on Wonder Auto to $16 from $13 to reflect increased demand and international market penetration.
Analyst Alex Xu said Wonder’s 2008 revenue guidance of $140 million is achievable and has room for upside.
In Thursday’s trading, WATG shares rose 8.05%, or $0.89, to $11.94. Over the last 52 weeks, shares have ranged from $4.50 to $12.21.
