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Analyst Actions: Scotia Capital Keeps Buy on Migao Corporation, Which Is Up 6%

Scotia Capital is reportedly maintaining its Buy recommendation and target of $8.50 on Migao Corporation (MGO.TO), which is up 22 cents or nearly 6% at $3.94 today, taking it further away from an existing year low of $3.60.

Migao Corp is one of the China-based companies hurt this month by the negative sentiment surrounding Sino-Forest Corp (TRE.TO). But Migao shares have been drifting down since March when the company disclosed it had agreed to pay US$100 million to a Russian company in exchange for a 10-year supply of potash, but declined to provide much more information, the Financial Post reported.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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