ORLANDO, Fla., Dec. 4, 2006 (PRIME NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, announced that they have initiated research on Orsus Xelent Technologies, Inc. (OTCBB:ORXT).
Jason Chen, Ph.D., RedChip Research Director wrote in the report:
"Based on the Company's strong earnings growth potential, we give ORXT a 12 month price target of $5.25, which translates into a forward P/E of 15.9 times FY07 projected earnings. As a young company, Orsus has already conquered one percent of the world's largest mobile phone market. With its innovative products, its aggressive marketing strategies, its R&D capabilities and its talented management team, Orsus is positioned to become a dominant player in the China mobile phone market. Again, we emphasize that our price target could prove conservative if Orsus executes effectively over the next 12-24 months and capitalizes on its current business opportunities."
To receive a complimentary copy of the RedChip Visibility initial research for ORXT, please visit: http://www.redchip.com/visibility/about.asp?page=requestORXT.
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RedChip Visibility Research Disclosure
The analysts contributing to this report do not hold any shares of ORXT. Additionally, the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. RedChip certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analyst in the report. Additional information on the securities mentioned in this report is available upon request. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change. In the purview of Section 17(b) of the Securities Act of 1933 and in the interest of full disclosure, we call the reader's attention to the fact that Red Chip Visibility, a division of RedChip Companies Inc, has been paid $34,500 for this report. The Company has also hired RedChip's affiliate company, Aurelius Consulting Group Inc., to provide investor relations services for a fee of $10,000 per month.