Biosensors - Biosensors started at Buy by DBS Vickers with $1.20 target

Stock Name: Biosensors
Company Name: BIOSENSORS INT'L GROUP, LTD.
Research House: DBS Vickers

DBS Vickers starts Biosensors (B20.SG) at Buy with $1.20 sum-of-parts target price, according to Dow Jones.



DBS Vickers says heart-stent maker technologically ahead of rivals, well positioned to gain market share: “Biosensors is awaiting approvals for its product to be sold in Japan and China. There could be room for earnings upgrades once these are granted.”���



Broker notes stent market in both countries worth combined U$800 million-U$1 billion ($1.1 billion-$1.3 billion). Thinks company an attractive takeover target for larger peers, while upcoming HK listing of MicroPort Scientific, which makes equipment for keyhole surgery, could help boost interest in Biosensors.���



Forecasts earnings CAGR of 24% over FY10-12. Shares +7.1% at $0.90.