William Blair Maintains Deer Consumer Products (DEER) Outperform Rating

William Blair & Company analysts Jon Andersen and Liping Cai maintained their rating of Outperform for shares of Deer Consumer Products, Inc. (Nasdaq: DEER).

The analysts noted that Deer Consumer Products reported huge earnings and sales increases during the 4th quarter.

The William Blair & Company analysts said, "We maintain our 2010 revenue, net income, and earnings estimates of $153 million, $23.6 million, and $0.70 per share, respectively. However, we believe upside potential exists, as management sounded optimistic that its projections should prove fairly conservative. We view the current 2010 price-to earnings multiple of 16.5 times, which stands at a 2 multiple point discount to a peer group of Chinese small appliance manufacturers, as attractive, given our expectation that earnings should nearly double in 2010 and grow at a compound annual rate in the range of 30% over the next several years."