New Analyst Ratings (CHNG, ITRI, OXF, SHIP)

Published on Monday, 23 August 2010 07:54 Written by Danny Miller

New York, August 23^rd (TradersHuddle.com) – Following are some of the new analyst ratings before the market open.

Research Firms Initiate or review:

China Natural Gas (NASDAQ:CHNG) rating placed under review from Market Outperform at Rodman and Renshaw. This rating change is driven by the overhang on the company from an 8K filed in relation to non-reliance on previously issued financial statements impacting its 2009 10K and 1Q10 10Q filings. Firm believes the primary impact of this development will be on reclassification of warrants on the balance sheet. The analysts will revisit their financial projections and rating once management can provide an indication of having addressed this issue.

Itron (NASDAQ:ITRI), the provider of solutions for collecting, communicating, and analyzing electric, gas, and water usage data, was initiated with an Outperform at Credit Suisse and a target price of $70.

Oxford Resource Partners (NYSE:OXF), the processor of surface coal reserves in the Northern Appalachia and the Illinois Basin, was initiated with Outperform at Wells Fargo.

Seanergy Maritime Holdings (NASDAQ:SHIP) was initiated with Market Outperform at Rodman & Renshaw and a target price of $1.25. The firm cites strong growth in Asia driving imports of minerals, grains and other feed stocks for their expanding economies and infrastructure needs. Firm notes that although demand has slowed in the past six to 12 months, freight rates have turned positive lately.