Tongjitang Chinese Medicine initiated with "buy" - update

05/25/07 - Brean Murray, Carret & Co

NEW YORK, May 25 (newratings.com) - Analyst Julie Chen of Brean Murray initiates coverage of Tongjitang Chinese Medicine Co (TCM) with a "buy" rating. The target price is set to $16.

In a research note published yesterday, the analyst mentions that the company’s chief product Xianling Gubao enjoys a monopoly position in the Chinese osteoporosis pharmaceutical market. Tongjitang Chinese Medicine is poised to benefit from the ageing Chinese population, the analyst says.