NEW YORK & JIANGXI, China--(BUSINESS WIRE)--Jade Art Group Inc. (OTCBB: JADA - News), a seller and distributor of raw jade sourced from the SheTai Jade mine in China, today announced that Murphy Analytics, a fee-based equity research group, has initiated coverage on Jade Art Group with an "Outperform" rating.In the report entitled, "Gold Has a Value; Jade is Invaluable," Murphy Analytics discussed such investor highlights as Jade Art Group’s exclusive distribution right with XiKai Mining, which has China’s largest high quality jade reserves. The report also reviewed industry drivers, including the increasing demand for jade throughout China.
According to analyst Patrick J. Murphy, CFA, and author of the report, much of the Chinese economy’s increasing demand for jade is driven by the rapidly growing affluence of the middle and upper classes whose rising incomes make “treasures such as jade not only desirable but obtainable by an ever-expanding market.”
These are among the factors substantiating the Company’s 2008 guidance of $61- $65 million in revenues, according to the report.
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