ORLANDO, Fla., July 1, 2008 (PRIME NEWSWIRE) -- RedChip Independent, a division of RedChip Companies, Inc., has initiated coverage on China Security and Surveillance Technology, Inc. (NYSE:CSR), a vertically integrated provider of surveillance systems in the People's Republic of China.
Matthew Kantrowitz, MBA, RedChip Research Analyst, reported:
"We are very optimistic about CSR's growth potential both organically and through acquisitions. We believe the Company's impressive increases in revenue and strong profits in 2007 will be eclipsed in 2008, fueled by new contracts stemming from expanded government projects. CSR also continues to diversify into new segments and increase its number of partnerships and subsidiaries, which should lead to robust top- and bottom-line growth.
"CSR's move from the bulletin board to the big board coupled with strong 2007 results has catapulted its share price. However, recent declines present an excellent buying opportunity for growth-oriented investors. We believe CSR will continue to benefit from consolidation in a fast growing industry in China. Having an excellent relationship with the Chinese government should continue to gain the Company lucrative contracts in the upcoming years. We think the growth story here will continue to be very attractive and produce impressive returns for shareholders," Kantrowitz continued.
"We are initiating coverage on CSR with a 'Buy' rating," he concluded.
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Disclosure
Neither RedChip Companies nor the analyst has received any compensation from China Security and Surveillance Technology, Inc. or any other party for the writing and preparation of this equity research report. The analyst(s) contributing to this report do not hold any shares of the subject securities. 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. Neither the information nor any opinion expressed constitutes an offer, or an invitation to make or garner an offer, to buy or sell any securities or any options, futures, or other derivatives related to such securities.