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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area

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From: Ed Ajootian	7/1/2009 9:14:47 AM
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Smartheat (HEAT) -- Although this stock has appreciated about 20% in the last few months I'm still bullish about it and believe it is just starting to ramp up. Somebody recently did a great writeup on the company at Seeking Alpha, see seekingalpha.com . Omitted from the above writeup is the fact that company acquired a plate heat exchanger (PHE) manufacturer last month, which completes a key missing part to their business plan. Now they can make the PHE's themselves instead of buying finished PHE's to put in their PHE units. The terms upon which they bought the company were also very favorable, paying about 3x earnings, with seller financing. Rodman & Renshaw now has a $10 price target on the stock and is calling for EPS for '09 and '10 of $.63 and $.84, respectively, see smartheatinc.com . The shares from last year's PP finally got registered about a week ago, and so far the PP investors are behaving themselves by & large. Right after the registration statement was declared effective by the SEC, the company filed a new S-3 for a $75 shelf registration statement. I don't have a problem with them looking for more money if they can keep making bolt-on acquisitions at a price of 3X earnings.

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