AMI Research Updates Coverage of Jade Art Group, Inc.
August 27 2008 - 8:37AM
PR Newswire (US)
Downgraded to NEUTRAL Until Operations Regain Traction, Operations
Halted by Earthquake KEY LARGO, Fla., Aug. 27 /PRNewswire/ -- AMI
Research, a division of Hawk Associates, today announced that it
has issued an update on its analyst coverage of Jade Art Group,
Inc. (OTC:JADA) (BULLETIN BOARD: JADA) based on the company's Q2
'08 results. AMI Research downgraded its rating to NEUTRAL with a
price target of $3.29. The complete report is available at the AMI
Research website http://www.amistockreports.com/ . The report says,
"The earthquake that shook Inner Mongolia, China in June forced
Jade Art Group to suspend operations at its jade mine due to the
destruction of the road leading to the mine. As a result, the
company reported a disappointing Q2 '08 with revenues contracting
37% to $6.7 million." The report also notes that given the
uncertain time frame for recommencing normal operations, management
has withdrawn its 2008 guidance and says it expects to generate
little or no revenue in Q3 '08. Existing sales contracts will
provide a strong catalyst to restart the company's revenue stream
and regain momentum once normal operations resume. The report says,
"In 2009, we expect a strong 40% growth in volume due to the carry
forward of current sales agreements." About AMI Research AMI
Research is a leading provider of issuer-paid research coverage and
a division of Hawk Associates Inc. AMI Research offers high quality
and credible fundamental analysis of promising small companies that
do not have traditional Wall Street analyst coverage. Please visit
http://www.amistockreports.com/ . AMI Research abides by the Best
Practice Guidelines Governing Analyst and Corporate Issuer
Relationships, developed by the CFA Institute in conjunction with
the National Investor Relations Institute (NIRI). The cost of a
one-year continuing research program is $30,000 prepaid for four
research reports. AMI does not accept payment of fees in company
shares. All AMI Research and Hawk Associates personnel are
prohibited from trading in securities of covered companies. Neither
the analyst's compensation nor the compensation received by AMI
Research is in any way related to the specific ratings or views
contained in this research report. For more information, contact
Frank Hawkins or Julie Marshall at 305-451-1888 or visit
http://www.hawkassociates.com/ . DATASOURCE: AMI Research CONTACT:
Frank Hawkins or Julie Marshall for AMI Research, +1-305-451-1888
Web site: http://www.hawkassociates.com/
http://www.amistockreports.com/
Copyright