Genesis Technology "speculative buy"

05/25/07 - JM Dutton & Associates

NEW YORK, May 25 (newratings.com) - Analysts at JM Dutton reiterate their "speculative buy" rating on Genesis Technology Group Inc (GTEC). The target price is set to $0.22.

In a research note published this morning, the analysts mention that while Lotus Pharmaceuticals, the company’s partner, reported its 1Q revenue growth at 26.73%, its operating income declined by 2.3% in the quarter due to the significantly increased operating expenses. According to the analysts, Genesis Technology’s performance going forward is unlikely to be significantly impacted by its partner’s 1Q results. The company is likely to complete two of its five ongoing projects in 2007 and the remaining in 2008, JM Dutton adds.