RedChip Visibility, a division of RedChip Companies, Inc., has issued a research note on China Natural Gas, Inc. (Nasdaq:CHNG), a clean tech company providing natural gas for transportation use in China.
Clay Mahaffey, CFA, RedChip Research Analyst, reported:
"Our growth assumptions in our initial report proved to be much more conservative than the fourth quarter and full year results reported. Given the Company's cash position, CHNG's ability to implement their growth plan looks reasonable. We are reviewing our estimates model and continue to be very comfortable with our Strong Buy rating and price target of $19.50."