China Natural Gas "buy"

05/30/07 - Brean Murray, Carret & Co

NEW YORK, May 30 (newratings.com) - Analysts at Brean Murray reiterate their "buy" rating on China Natural Gas Inc (CHNG). The target price is set to $4.

In a research note published this morning, the analysts mention that the recent SEC filing indicates that the company has discontinued its relationship with Kabani & Company, its independent auditor. China Natural Gas made several positive changes since January 2007 that support the company’s infrastructure, with this disengament with the auditor being the latest one, the analysts add. These changes exhibit the company’s commitment to provide transparency for the investors, Brean Murray adds.