China Automotive upgraded to Buy from Hold at Greenridge

Greenridge analyst William Gregozeski upgraded China Automotive to Buy from Hold with an unchanged price target of $7.50. The stock’s 20% decline after the Q4 earnings announcement "appeared justified," but a deeper dive showed there were a few one-time items that "muddied" the results, the analyst tells investors in a research note. The firm says China Automotive is ramping sales of its highest margin products and focusing on expanding within large car makers, which points towards future growth. It cites valuation for the upgrade.