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do.
After it plunged to a lowly two-star
rankearlier this year, more top-performing CAPS members
have warmed to
Longtop Financial Technologies (NYSE: LFT),
lifting its rank to
five
stars. A total of 144 members have given their opinion on
the Chinese software and services firm, with many offering
analysis and commentary to explain their recent optimism.
Like other Chinese companies such as
Baidu (Nasdaq: BIDU) and
AgFeed Industries (Nasdaq: FEED), Longtop's
shares have
booked incredible gainsso far this year. China's business
boom is attracting the attention of big players such as
IBM (NYSE: IBM), and many investors see
Longtop
playing a key rolein China's growing need for information
technology services. It was recently named the No. 1 and No.
2 market share leader in China's banking and insurance IT
solution markets, respectively, by analyst firm IDC.
Longtop focuses on the largest customers in each of its
segments, and its clients include some of China's largest
banks and insurance companies -- the equivalent of a U.S.
company landing
Bank of America (NYSE: BAC),
Wells Fargo (NYSE: WFC), and
Prudential Financial (NYSE: PRU) as
customers.
That strategy is paying off. Along with
local competitor
Yucheng Technologies , Longtop reported
strong revenue growth in its most recent quarter, enjoying
strong demand across its segments. The company faced
headwinds in its ATM services business, which accounts for a
smaller portion of revenue. Nonetheless, it raised its fiscal
2010 revenue and earnings forecasts, expecting growth to
continue across its segments.
Do you think Longtop Financial deserves its five-star
status? Add your thoughts in the comments box below on this
page, or head over to our totally free CAPS service to
rate the
companyand check out all the information and opinions our
community offers.
This article was originally published as
A Big Upgrade for Longtop Financial Technologieson
Fool.com
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reserved.
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