Maxsoar Updates Coverage of Longwei Petroleum Investment Holding Ltd. (NYSE Amex: LPH) ("Longwei" or the "Company") with Rating of Outperform; Raises Fair Value Assessment to $5.18 - $5.87
Longwei is a large-scale wholesaler and distributor of gasoline, diesel, and other oil products in China with national wholesale and distribution licenses for petroleum products. The company owns 220,000 tons of oil storage capacity after recently completed acquisition of a large oil storage facility. The main customers of Longwei are coal mining companies, power supply plants, manufacturers, and retail diesel and gasoline stations in Shanxi Province.
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