Stock Name: OSIM
Company Name: OSIM INTERNATIONAL LTD
DMG & Partners Research in a July 27 research report says: "OSIM reported a 55% y-o-y jump in 2Q11 PATMI to $19 million, which were in-line with expectations with 1H11 PATMI of $39 million (+93% y-o-y) accounting for 53% of our FY2011F estimates.
"Looking forward we expect 2H sales to be driven by new product launches which includes uDivine Sport, uJazz, uPapa Music Synch and Zhi, an energy drink. We expect its cash coffers to grow to $300 million by year end, which will come in handy for M&As. It is currently trading at an attractive 15x/13x FY11/12F P/E, below the average 18x its regional peers are trading at.
"We continue to like the stock for its strong stable of speciality brands in which it has dominant market positions in. Target price of $1.84, pegged to 18x FY11F earnings. MAINTAIN BUY."
Company Name: OSIM INTERNATIONAL LTD
| Research House: DMG | Price Call: BUY | Target Price: 1.84 |
DMG & Partners Research in a July 27 research report says: "OSIM reported a 55% y-o-y jump in 2Q11 PATMI to $19 million, which were in-line with expectations with 1H11 PATMI of $39 million (+93% y-o-y) accounting for 53% of our FY2011F estimates.
"Looking forward we expect 2H sales to be driven by new product launches which includes uDivine Sport, uJazz, uPapa Music Synch and Zhi, an energy drink. We expect its cash coffers to grow to $300 million by year end, which will come in handy for M&As. It is currently trading at an attractive 15x/13x FY11/12F P/E, below the average 18x its regional peers are trading at.
"We continue to like the stock for its strong stable of speciality brands in which it has dominant market positions in. Target price of $1.84, pegged to 18x FY11F earnings. MAINTAIN BUY."
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