The stock of Taiwanese snack food giant Want Want Holdings was downgraded from buy to sell earlier today [Friday] as ING Baring Securities decided it has “great concern” about the group’s decision to enter into a hospital-building JV.
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ING also set a lower price target of US$1.8 for the company’s stock, saying that there is no reason why it should continue to trade at a premium.
To read more about the reaction to Want Want’s diversification strategy, click here.
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