Goodpack - Goodpack cut to Neutral by DMG; $1.82 target

Stock Name: Goodpack
Company Name: GOODPACK LIMITED
Research House: DMG

DMG downgrades Goodpack (G05.SG) to Neutral from Buy as stock has breached its $1.82 target price after 30% run-up in last 3 months, says Dow Jones.



DMG trims FY11 earnings forecast by 2.0% to US$37 million ($50 million) to factor in rising staff costs. Notes supplier of intermediate bulk containers aggressively hiring in bid to speed up expansion in automotive industry, increase presence in Asian markets. But adds, move positive in long run, “two of the countries in focus are China and Japan, where Goodpack has little presence.”



Shares +2.1% at $1.93.