Stock Name: Sarin
Company Name: SARIN TECHNOLOGIES LTD
Sarin has an estimated two-thirds share of the market for precision technologies for diamond and gem processing, Kim Eng said in a report.
Company Name: SARIN TECHNOLOGIES LTD
| Research House: Kim Eng | Price Call: BUY | Target Price: 0.91 |
Kim Eng Securities has initiated coverage of Singapore-listed Sarin Technologies (SARI.SI), which makes machinery for the processing of diamonds and gems, with a buy rating and target price of $0.91.
Sarin has an estimated two-thirds share of the market for precision technologies for diamond and gem processing, Kim Eng said in a report.
“Sarin has recovered by leaps and bounds from the global financial crisis with a 617% jump in earnings per share in 2010,” Kim Eng said.
The brokerage added that a change in Sarin's business model has helped it to build more recurring income, and it expects the firm's earnings per share to grow at an average annual growth rate of 25.3% over 2011-2013.
At 9:38 a.m., shares of Sarin were 4% higher at $0.775, and have gained 43.5% since the start of the year.
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